HSA employer contribution
What’s the employer contribution sweet spot?
Employer contributions do influence employee contributions. How do we know that? More than 7 million HSAs are on the WEX benefits platform, giving us unique insights into participant behavior.
Our data insights team has learned:
Data is from WEX benefits platform.
Lifestyle spending accounts
The last couple years has created a shift in needs around mental, physical, and financial employee wellness. Lifestyle spending accounts (LSAs) are perfectly positioned to support these needs.
Data is from our LEAP platform
Medical FSA spending habits
Hundreds of eligible expenses are available for medical FSA participants’ funds. And that list expanded when the CARES Act permanently reinstated over-the-counter products as eligible expenses. Learn more about what participants spend their medical FSA funds on.
Percent of medical FSA funds specifically spent at:
Drug stores/pharmacies: 13.7%
Opticians/optical goods/eyeglasses: 5.7%
Dependent care FSAs
The COVID-19 pandemic and the emergence of flexible work arrangements has transformed the needs around child care and other dependent care needs. The year 2021 showed us that participants’ contributions to dependent care FSAs returned to pre-pandemic levels, showing these accounts are back in high demand.
If your HR teams are fielding a lot of employee questions about their benefits, we’ve compiled our lists with some of the most-searched terms and articles in 2021 in our participant knowledgebase.
- Account number