Your employer will contribute a specified amount to your account each year.
You can file a claim electronically after you have paid upfront for an eligible expense during your Plan Year from the Mobile App or Member Account, and you will be reimbursed with money from your LSA, as long as you have funds.
You will be able to access your Member Account at Surency.com, where you can manage every aspect of your account online. You can even sign up to receive notifications via text messages!
Eligible expenses for LSAs will differ from plan to plan, but in general, eligible expenses are purchases that promote a healthy lifestyle. Some examples of these may include gym memberships, fitness classes, exercise equipment and more. Check with your benefits administrator for a list of eligible expenses for your plan.
If an employer determines certain Lifestyle Spending Account (LSA) expenses are eligible for pre-tax reimbursement, how do we handle these?
If your employer would like to contribute pre-tax dollars to you for specific eligible expenses, they should establish a separate pre-tax benefit to do so to take advantage of the tax benefits that are allowed. For example, commuter benefits, tuition reimbursement, adoption assistance, etc. are eligible for tax benefits and should be separated from the LSA. While these examples could be considered as part of an overall lifestyle program that your employer offers to help you with where you are at in life, they should be separate from an LSA.
What documentation is required for Lifestyle Spending Account (LSA) expenses?
Documentation requirements are determined by your employer. Surency could require proof of documentation to ensure that purchases meet the list defined by your employer.
What eligible expenses aren't included for Lifestyle Spending Accounts (LSAs)?
Eligible expenses that only apply to a very small population of employees and are used to supplement health insurance should not be scoped into the LSA. Your employer may look to supplement their health insurance with additional funds to help you with specific needs either because their medical plan does not cover them at all or it does not provide adequate coverage. While we can support a reimbursement account for specific supplemental expenses, it should be separate from the LSA.
What are common Lifestyle Spending Account (LSA) eligible expenses?
Listed below are common eligible expenses, but can be customized beyond what is listed based on what your employer is looking for. Eligible expenses for LSAs will differ from plan to plan. Please check with your employer for your eligible expenses.
Physical Wellness:
Athletic Equipment and Accessories
Exercise Equipment
Gym, Health Club, Spa and Fitness Studio Memberships
Are there any tax implications with a Lifestyle Spending Account (LSA)?
Since an employer funds an LSA with post-tax dollars, the dollars a member spends is considered taxable income.
DOES THE SURENCY BENEFITS CARD WORK WITH A LSA?
Yes! Please check with your benefits administrator to see if the Surency Benefits Card is applicable to your plan.
What is a lifestyle spending account?
A Lifestyle Spending Account (LSA) is a spending account for your well-being. It is a post-tax spending account, funded by your employer, with eligible expenses that will depend on your particular plan. Eligible expenses for LSAs will differ from plan to plan, but in general, eligible expenses are purchases that promote a healthy lifestyle.
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Choose your Surency account type below to log in and access your account. Reimbursement accounts include FSA, DC FSA, LP FSA, HSA, HRA, Commuter, LSA, QSEHRA, Adoption Assistance, Travel Benefits, Direct Billing and Premium Only Plans.