Prioritizing Employee Health and Wellness
Lifestyle Spending Accounts (LSA)
Choice & Flexibility
A NueSynergy Lifestyle Spending Account (LSA) is sponsored and funded by your company to help your employees support the health and wellness activities in their lives. An LSA is similar to account-based benefits you’re already familiar with, like health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs), but it’s a flexible benefit plan that provides funds specifically for health and wellness products and services.
Reward With Health
We help employers customize benefits and choose their contributions.
Your employees can use the NueSynergy smart debit card we’ll provide to pay for eligible LSA expenses. Or they can pay with personal funds and submit their receipt(s) to NueSynergy for reimbursement.
NueSynergy LSAs are funded by employers with money that is taxable as income to employees when they spend it, unlike the tax advantages of HSAs, FSAs and HRAs, for which withdrawn funds are not taxable.
Start Empowering Healthy Habits
Getting started with our LSAs is easy as 1, 2, 3.
A NueSynergy LSA is one way to emphasize the impact lifestyles can have on the health and wellness of your employees. Because the funds used by your employees are taxable, it removes many of the regulatory constraints tax-advantaged accounts carry with them.
Setting up an LSA is simple. Once you choose to offer a NueSynergy LSA, all that’s left for you to do is decide:
- How much will your annual contribution be to each employee’s account?
- Which health and wellness products and services will be considered eligible expenses?
- How your will company manage unused LSA contributions at the end of the plan year (retain funds or allow employees to roll over to the next year)?
Wellness Made Easy
When employees are healthy and engaged, everybody wins.
A NueSynergy LSA adds flexibility to benefits plans and is easy for you to implement and control. Your employees and their dependents can use your company’s annual employer contribution for anything you deem eligible that promotes their health and wellness. Typical expenses can include:
- Gym, health club, and spa memberships
- Fitness classes, such as yoga, Pilates, spin/cycle
- Athletic apparel and equipment
- Passes for ski, snowboard, golf, swimming
- Student loan reimbursement
- Financial adviser and planning services
- Nutritional counseling and supplements
- Entry fees for marathons, leagues, and other activities
- Pet care