Are you using all your Lifestyle Spending Account (LSA) can do? You’d be amazed at how many people aren’t fully aware of the extensive list of eligible expenses that Edenred LSA plans cover. This guide is here to change that. We’re going to unlock the full potential of your LSA, ensuring you’re not missing out on any benefits. From wellness to personal development, we’re going to explore all the ways your LSA can contribute to a better work-life balance, financial well-being, and more.
Before we talk specifics, let’s understand some important things about LSAs:
Now that we’ve got the basics down, let’s explore the exciting part!
Read more: What can Lifestyle Spending Accounts do for you?
Well, there are endless possibilities. Here are some eligible expenses you may be able to pay with LSA:
LSA is for foodies and home cooks alike. It covers eligible expenses at wholesalers, caterers, dairy stores, bakeries, and liquor stores. This lets employees control their expenses and improve their food and shopping experience.
If you’re the outdoorsy type, your LSA is your best friend. Your services include home garden, sports, and music apparel. You also have boat rentals.
Lifestyle spending account is your golden ticket to a world of fun. LSA covers attractions like movie theaters and tourist attractions, so you can enjoy them without spending a lot of money.
You can always be on the move with LSA’s travel coverage that covers bus tickets, bicycle maintenance, bicycle equipment, gas station tickets and more.
LSA helps you and your family, no matter what life brings. Eligible expenses include legal services, family counseling, school and child-care services, and more, to take care of your furry friends and your pet store needs. It’s a one-stop-shop for everything you and your family need.
LSA is also a partner in making your home a comfortable place to live. You can buy high-quality apparel, shoes, furniture, and home office supplies, which lets you create a unique space with a unique aesthetic and feel.
Use a lifestyle spending account for construction services, contracted services, and appliance repairs. From electrical and plumbing equipment to carpentry and insulation contractors, LSA has you covered.
Finally, LSA is a travel buddy. From airline tickets and car rentals to miscellaneous travel expenses like cruise lines and RV rentals, LSA ensures you’re always ready for your next adventure.
Employers and employees love Edenred LSA for lots of reasons, like:
To keep employees happy and engaged, offering them LSAs is a strategic move. This action demonstrates that their appreciation for flexibility and convenience is recognized and valued. With a wide array of eligible expenses, LSAs cater to their diverse needs, leading to higher job satisfaction.This action shows that if they appreciate flexibility and convenience, providing them with it is important for you.
A 2021 study by Gartner found that 74% of HR leaders plan to offer more flexible options to employees. Offering LSAs shows employers’ commitment to employee well-being and security. It’s like saying, “We care about your financial health, and we’re here to support you”.
A Glassdoor survey found that 94% of employees want benefits that meaningfully impact their quality of life, health, and well-being. And, unlike traditional benefit programs, LSAs can cover a lot of expenses. With an LSA, your company can tailor your benefits to your unique needs and lifestyle. It’s like having a benefits plan made just for you.
With a Lifestyle Spending Account, you can relax and live more. It covers expenses for relaxing, such as travel and entertainment, mobility, and stress management activities like fitness classes, yoga, and meditation. It also has nutritive supplements. It makes life easier!
Covering lifestyle expenses helps employees have a better work-life balance. According to a survey, 72% of employees say a good work-life balance is very important to them. With an LSA, you can enjoy the things you love without worrying about the cost. It’s like having a personal assistant that takes care of your expenses, so you can focus on living your life.
When employees are less stressed, they can work more effectively, increasing productivity. Taking care of one aspect of your life, like your health through eligible expenses, can have a positive impact on another aspect of your life, like your relationships with family and friends.
Read more: Edenred’s lifestyle spending accounts boost
For more information on how to fully leverage your corporate benefits package, consider consulting with one of our experts. They can help you strategize and optimize your benefits to ensure you’re getting the most out of your investment.