Value of an LSA
LSAs meet real employee needs
LSAs are highly customizable reimbursement accounts that can pay for a wide range of expenses. LSAs are an increasingly popular solution for employers that want to demonstrate their support for their employees. Offer employees individual, flexible benefits with an LSA.
Advances culture goals
For those prioritizing diversity, equity, and inclusion efforts, voluntary benefits like LSAs are an easy way to close the gap for different employee groups and varying types of needs.
Happier employees boost the bottom-line
Studies have shown that employees satisfied with their benefits are linked to increased productivity and cost savings for employers.
Employees want benefits that impact quality of life
Industry research shows that employees want benefits that impact their quality of life and overall wellbeing, beyond healthcare. And engaged employers that meet their employee needs see the impact in employee satisfaction, talent recruitment, and productivity.
94%
of employees want benefits that meaningfully impact their quality of life.
74%
of holistically healthy employees are more likely to be satisfied with their job.
61%
of employees say work-life balance / personal wellbeing is “very important.”
Sources left to right: BenefitsPro. “6 employee benefits with exceptionally high return on investment”. 2021. MetLife. “20th Annual U.S. Employee Benefit Trends Study.” 2022. Gallop, February 2022
Employees want benefits that impact quality of life
Industry research shows that employees want benefits that impact their quality of life and overall wellbeing, beyond healthcare. And engaged employers that meet their employee needs see the impact in employee satisfaction, talent recruitment, and productivity.
94%
of employees want benefits that meaningfully impact their quality of life.
74%
of holistically healthy employees are more likely to be satisfied with their job.
61%
of employees say work-life balance / personal wellbeing is “very important.”
Sources left to right: BenefitsPro. “6 employee benefits with exceptionally high return on investment”. 2021. MetLife. “20th Annual U.S. Employee Benefit Trends Study.” 2022. Gallop, February 2022
Why Lively
Loved by account holders, trusted by employers
The Lively customer experience raises the bar in the benefit solutions industry, with Lively leading the charge in:
Exceptional customer support
Every employer is assigned to a Customer Success team, while employees have access to a top-rated Member Support team.
Innovative and proprietary technology
Built in-house and thoughtfully designed to be easy-to-use, dependable, and to personalize employer experiences.
Taking the burden off employers
Robust education and resources, crafted to continuously drive usage for employees and take the burden off administrators.
Why Lively
Loved by account holders, trusted by employers
The Lively customer experience raises the bar in the benefit solutions industry, with Lively leading the charge in:
Exceptional customer support
Every employer is assigned to a Customer Success team, while employees have access to a top-rated Member Support team.
Innovative and proprietary technology
Built in-house and thoughtfully designed to be easy-to-use, dependable, and to personalize employer experiences.
Taking the burden off employers
Robust education and resources, crafted to continuously drive usage for employees and take the burden off administrators.
LSA Offerings
Employers are in control
Lively LSAs are highly customizable. Work with our expert team to to design the LSA plan that is the best fit for your business and your people, starting from our carefully curated list of expenses.
LSA Offerings
Employers are in control
Lively LSAs are highly customizable. Work with our expert team to to design the LSA plan that is the best fit for your business and your people, starting from our carefully curated list of expenses.
Features & benefits
Show-don’t-tell employees that you care
Show your people that you care with Lively’s curated LSAs, tailored to your employee’s unique needs.
Highly customizable plans with intuitive administration
Lively's LSAs set a high bar as a creative and cost-effective way to show dedication to employee welfare without the usual administrative headaches.
Employers can customize the following plan aspects:
Which employees are eligible
What expenses are eligible from a curated list
How much and when to contribute
Whether to require substantiation
Year-end extension options
Leading user experiences to drive adoption
With Lively's LSAs, employees can easily get reimbursed for lifestyle services and purchases that they want, or already pay for out-of-pocket.
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Frequently asked LSA questions
How do LSAs work?
Most LSAs, like Lively’s, are set up as a simple reimbursement account. Once employers set what expenses are eligible and how much to allocate for each employee, employees simply pay for eligible expenses out-of-pocket and submit them for reimbursement up to the max amount. Reimbursed amounts are taxable for the employee.
Are Lifestyle Spending Accounts taxable?
LSAs are generally designed as a post-tax account, though it may depend on the eligible expenses for a particular LSA. We recommend that employers seeking to offer LSAs as a pre-tax account speak to a tax or legal advisor on the best way to accomplish this.
What is the benefit of an LSA?
LSAs are subject to fewer compliance regulations and are more flexible for employers to offer because they are not a tax-advantaged benefit. LSAs are commonly targeted at improving physical and emotional health for employees, which employees now increasingly expect employers to address as part of a robust benefits package. LSAs are also more likely to be adopted over a well-meaning, but ultimately unused program initiative.
What is eligible for an LSA?
Employers can set eligibility requirements when offering LSAs, as long as they don’t do it in a discriminatory way. Popular LSA expenses include fitness and wellness expenses such as apps, fitness classes, and gym memberships; remote work expenses; family planning expenses such as fertility, surrogacy, and adoption expenses; pet care; and experiences such as travel, hotels, concert, and event tickets. In general, Lifestyle Spending Accounts cannot cover expenses covered by an employees’ health insurance plan.