Let’s start with a few simple facts. It’s no secret that happy and healthy employees are more productive and generally miss fewer days of work. But, something you may not know is that, a competitive benefits plan is also a powerful retention tool that helps you attract and retain top talent!
If your company puts an emphasis on employee health and wellness, both mental and physical, and values long-term employee retention, a wellness spending account (WSA) could be the perfect fit for your business!
Employee benefits come in many forms and a wellness spending account is just one of them. When you think of wellness, many people think that this account will just cover a gym membership. But the list is much more comprehensive than that. Yes, they can include the typical fitness memberships and sporting equipment/team fees, but these allowances can also be used to cover items that support an employee’s mental health and financial wellness. That’s pretty cool, right?
If you think that this is an offering that would be beneficial to your corporate culture, and want to move to next steps, we recommend seeking feedback from your employees to determine what types of items/services should be covered. After all, your employees will be the ones taking advantage of this offering, so it makes sense to find out what’s important to them. It’s also important to note that this type of benefit is taxable to the employee, but with the added value of this coverage offering, we don’t think they’ll mind!
