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Lifestyle Spending Account (LSA)

What is a lifestyle spending account (LSA)?

A Lifestyle Spending Account (LSA) is an employer-funded, post-tax spending account, with eligible expenses and plan details customized by the employer, that promotes healthy habits and overall well-being.

Easily create and offer an LSA.

                                    Piggy Bank                            Person Speaking
     

Build an LSA that works best for you (and your clients).
No matter how you want to set up your lifestyle spending account, from the categories you want to cover or flexible reimbursement options, you can create a custom LSA that
makes sense for you.

  

Get help from experts along the way.
Need guidance on what options would work best?
Or insight into how lifestyle spending accounts
can be customized? We’re here to help.

Options for Employee Reimbursement

Image of dollar bills: Employee Reimbursement   1. Reimburse through payroll.
Allows for you to do the reimbursement and tax withholdings simultaneously through payroll.
   
2. Reimburse directly by LBS.
LBS processes claims and reimburses the employee directly allowing for more timely reimbursement and the employee receives the full amount. LBS provides you with reporting of amounts available and reimbursed to employees. This will allow you to report appropriate taxes.

Examples of Eligible Expenses

Image: running shoe  

Physical Wellness
             
    Athletic and Exercise Equipment
and Accessories		   Gym, Health Club, Fitness Studio Memberships   Fitness Entry Fees and Passes
    Examples: treadmill, elliptical,
basketball, golf club, fitness
apparel, fitness shoes, etc.		     Examples: Marathons, 5Ks,
sports leagues, skiing,
snowboard, golf, tennis, etc.
             
    Fitness Classes, Lessons and
Personal Trainer		   Fitness Trackers   Nutritional Supplements
    Examples: Yoga, Pilates, cycling, martial arts, dance, online fitness memberships   Examples: Fitbit, Apple Watch, etc.   Examples: Protein powder,
Omega 3, Ensure, Boost

 

Image: blank check  

Financial Wellness
             
    Financial Advisor, Financial Planning
and Financial Seminars/Classes 		   Identity Theft Services   Pet Insurance
         

 

Image: Person meditating  

Emotional Wellness
             
    Personal Development   Pet Care   Retreats
    Examples: Classes (art, cooking, sewing), life coach, etc.   Examples: Walkers, day care, grooming, etc.   Examples: Leadership,
Spiritual, etc.
             
    Meditation Classes
   Park Passes
    
           

 

Image: Light Bulb  

Continuing Education

 

          
         
    Work related
Continuing Education		   Non-work related
Continuing Education		            

 

Build your custom LSA with Lifetime Benefit Solutions

Download our Lifestyle Spending Account employer fact sheet and contact your dedicated LBS Sales Executive or Request a Quote.

LBS is not a law firm or an accounting firm and does not provide legal or tax advice with respect to these accounts. Federal, state and local laws may vary with respect to the legal and/or tax requirements for reimbursements made from a lifestyle account (depending on such factors as the benefits you make available, the timing of the reimbursement of the benefits you make available, etc.).

Please consult with your own legal counsel and/or tax advisor for the legal requirements and/or tax implications that may apply to you or your employees.