As employers fight to attract and retain the best employees, lifestyle spending accounts (LSAs) have emerged to expand benefit programs in a more personalized way. Amid today’s highly competitive war for talent, the Alegeus WealthCare LSA offers a differentiated solution – designed to fuel your business growth while driving better outcomes for employers and consumers.
WealthCare LSAs decrease the burden placed on HR teams to manually administer perk programs.
Employers can fund participant accounts to predefined amounts per employee, set limits and restrict spending for specific types of products/services.
Should employees’ needs change, employers can easily add more dollars to the account or update spending types.
Programs can be designed for employees to spend on what matters most to them, such as education, family planning, fitness or supplies.
Unlike cash or gift cards, employers only pay for what's used; unspent funds will be returned to them.
Backed by an industry-leading client support team and powered by modern SaaS-based technology, WealthCare LSA spans a variety of programs.
LifestyleFitness classes, gym memberships, home office supplies, utilities and beyond
Healthy groceriesSuch as food delivery services, meal kits, fresh produce and condition-specific boxes
Financial wellnessSavings assistance, emergency spending accounts, planning resources and other financial boosters
Life planningFrom tuition reimbursement to funds for adoption, surrogacy and fertility treatments
The employment landscape has experienced seismic change in the past few years. Workforces are increasingly diverse and spread out geographically and remotely. Employees want and need more than just a salary and traditional benefits. Through lifestyle benefit offerings, you can help your employer customers combat these challenges. LSAs allow employers to demonstrate support for their employees’ personal and professional well-being, helping to reduce turnover and increase loyalty and engagement. Our recent webinar, “The New Age of Lifestyle Accounts,” describes how the Alegeus WealthCare LSA can help employers stay ahead of the retention curve.
Define or limit spending by choosing the specific retailers or categories that are eligible
Employers can offer employees the things they both need and intrinsically want
Flexibility to adjust and refine to promote positive outcomes and happy employees
WealthCare LSA is white-label throughout, giving you the chance to build brand equity and consumer confidence.