BASE^® Blog

Employer-sponsored benefits have become an important part of any business.  Employers are always looking for ways to enhance their health benefits and help their employees pay for their health insurance premiums and out-of-pocket health care expenses.  Another benefit is starting to emerge that could be a great addition to an employer’s custom health benefits package.  The Lifestyle Spending Account is another benefit that both employers and employees can be thankful for!

The BASE® Lifestyle Savings Account is a post-tax spending account that allows employees to pay for eligible expenses that promote physical, financial, and emotional well-being.  

The Lifestyle Savings Account is available to all businesses who want to help promote healthy habits and the overall well-being of their employees.  The LSA allows employees to pay for the products and services to create a healthy lifestyle not covered by insurance. 

Employees can pay for eligible expenses for…

1. PHYSICAL: exercise equipment, gym and fitness memberships, personal trainers, fitness trackers, entry fees to marathons, ski and golf passes, and nutritional supplements. 
2. FINANCIAL: Home purchase expense reimbursement, financial and planning advisors, and identity theft services. 
3. EMOTIONAL/OTHER: Non-medical counseling services, retreats, camping supplies, mediation, personal development classes, annual park passes, and hunting and fishing licenses.

This service is different in the way that is it NOT done on a pre-tax basis, but post-tax.  If there are no tax-advantaged benefits to employers, why should employers be thankful to have something like this to offer their employees? 

The LSA allows employers to offer an innovative benefit that helps more effectively attract and retain talent.  It is also a great incentive to encourage healthy behaviors that increase employee productivity and reduces insurance costs.  Studies have shown that promoting health and wellness programs, a company will have happier, healthier employees.  Their productivity increases from 12-20% and cost the company less!  Now THIS is what employers are thankful for – happy, healthy, productive employees!

The LSA allows employees to have the freedom to choose and find expenses that meet their lifestyle and interests and get to promote a healthy lifestyle.  Now THIS is what employees are thankful for – a way to pay for eligible expenses that help them create and lead a healthy lifestyle! 

The BASE® Lifestyle Savings Account can help complete an employer’s health benefit offerings.  For more information on this new, post-tax benefits option, Contact BASE® at 888.386.9680.

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In recent years, so many businesses are finding that they need an employee benefit administrator, like BASE®, to help streamline and increase the efficiency of their health benefit and compliance plans.  With so many options available, it is critical that businesses choose the one for them.  But where to start?

Check out the 3 important things to look for while selecting a partner for expanding benefit options for the business:

A Strong Claims System.  The benefit partner a business selects should aim to create less work for the business and employees in submitting and reviewing claims. The importance of claims efficiencies simplifies benefits for everyone.  A strong claims system will transform your employee benefits experience through innovative technology, simplified benefits administration, and empathetic service.

The BASE® claim system can be accessed via the secure online account or mobile app.  Many clients have come to say that the claims process is easy to navigate, quick, and easy-to-use.

The Service Team. The employee benefit administrator a business owner decides to choose should have a service team that is dedicated to their clients.  This team should be able to listen and understand the needs of an employer, while providing a winning benefit strategy that is in compliance with the latest rules and regulations and provides full ongoing support.

Jeff T., BASE® HRA Client since 2005, knows that the service team is dedicated to their clients.  “…they make me feel like I am the only person they are working with.”  Jeff attributes their success to “…the people picking up the phones and working with clients.” 

Susan S, BASE® BP since 2003, never hesitates to put any of her clients on the phone with the service team.  “Not only does the BASE® staff say they will be there for you if you have trouble, but they also mean it.”  Susan believes that BASE® goes beyond what you see in our brochure.  “The staff has been great, no matter who I have worked with.  They really have perfected customer service, while ensuring tax savings for my clients…”

Plan Design & Service Flexibility.  Employee benefit administrators should be able to assess the needs of an employer to guide them in selecting a plan that fits their needs and is designed to maximize savings and provide a creative benefit solution.  The administrator an employer chooses will also provide flexibility, and with technology emerging as a key differentiator it plays a big role in providing an adaptable and robust platform to serve both the employer and employee.  Both plan design and flexibility are important in providing customized solutions for employers to achieve employee benefit goals.

Suzanne S., a BASE® Business Partner, believes in what BASE® is doing.  “I know I have a good reliable source to help my clients get the most out of their tax benefits, and they deliver current and consistent information. BASE® walks clients through the process and sets them up with the plan that best fits their situation, and I believe this will help clients save on tax dollars and benefit them greatly.” 

Suzanne knows that it is a process as much as the product.  “Not only does BASE® help small business owners, but you receive professional service and answers to all of your questions.”

BASE® is committed to satisfy the benefit administration needs for clients of varying sizes, help them succeed in business, and provide a sound vehicle for creative money saving benefit strategies and compliance solutions. Whether employers are looking to enrich their current benefit plans, offset benefit cutbacks, or implement cost saving measures, the highly trained staff works diligently to ensure that each plan is customized to meet the specific needs of each client.

Contact BASE® at 888.386.9680 for more information or to hear what more business partners and clients had to say! 

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