Launching a Competitive Lifestyle Spending Account Program: 7 Steps for Success

A recent Mercer Insights survey found that 70% of companies are considering adding one to their benefits package. Thanks to the inherent flexibility of an LSA, more companies are realizing the value these accounts offer to both employers and employees. But as a relatively new benefit in the market, it can be challenging to navigate LSA design and implementation.

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In this comprehensive 35-page guide, we’ll dive into the 7 steps you should follow to create a successful program and provide best practices, customizable templates, and helpful tips to get you started. The guide covers:

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• Benefits survey questions to assess your employees’ needs
• How to determine a budget and advocate internally for buy-in
• The “hard” vs. “soft” ROI of an LSA with calculations you can use to make your case to stakeholders
• Checklists to help you select a vendor that meets your needs 
• LSA design tips and best practices 
• How to communicate benefits information to employees
• KPIs to monitor for ongoing LSA optimization