Flores Introduces a Post-Tax Lifestyle Reimbursement Solution, life.balanced.
Charlotte, NC - October 4, 2018 - Is your benefits package attracting and retaining top tier talent? According to the Employee Benefits Research Institute, 78% of workers say that the employee benefits package is very or extremely important in their decision to accept or reject a job. Designing a benefits package that employees will value within the confines of a budget can be a challenging task for any employer. How can your organization keep up? One solution may be to tailor your benefits package to fit your company culture.
Flores’ new life.balanced. Reimbursement Account (LBA) is a post-tax lifestyle benefit solution powered by the proven Flores custom reimbursement platform. Employers can design the benefit to fit their unique company culture and align with their compensation and benefits strategy without the restrictions and red tape of pre-tax benefits.
Life.balanced. can reimburse employees for job-related items and services like clothes and grooming that are not provided, but key to their success. Employers can also use the account to help employees get personal tasks like lawn care, grocery delivery, or pet care done so they can stay focused on the job and enjoy more of their free time after hours. Life.balanced. can incentivize your wellness programs by reimbursing fitness classes, bikes, athletic shoes, and more. These are just a few examples of how employers can use life.balanced.to make their benefits packages unique and help raise the quality of life for their employees.
Employers only pay for the expenses claimed, making the plan a low-cost addition to your benefits package. For example, if you offer each employee $1,000 toward a fitness program and they only claim $200, your expense is only the amount paid to the employee.
Life.balanced. offers employers:
- A flexible platform to handle a variety of plan designs
- Individualized service and administration with the same dedicated account manager for employers and their plan participants
- An easy implementation process that integrates with other Flores lines of service
- Taxable plans that do not have to adhere to Section 213(d) expense limitations and other regulatory rules and restrictions
- Reporting to simplify accounting and expense tracking
- Weekly reimbursements for employees with a quick and easy claim process
- Reimbursement options including direct deposit or payroll
- Freedom to design a plan that reflects the unique needs of your organization
As employers compete to attract and retain top talent, creative benefit solutions are necessary. Life.balanced. leverages the proven proprietary reimbursement platform Flores clients have trusted for over 30 years in the administration of their pre-tax reimbursement programs to deliver the same efficiency and satisfaction to their taxable reimbursement programs.
said Mario Flores, president of Flores.
Please contact your broker partner or your Flores business development partner at 800.532.3327 for more information on life.balanced. What can you imagine?
About Flores
Flores is a leading national administrator of tax-advantaged reimbursement plans including Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs) and Commuter Benefit Accounts (CBAs). In addition to these account-based benefit options, they also handle COBRA and other direct bill services to meet the compliance needs of the employers they serve. In 2018, Flores introduced life.balanced. Reimbursement Accounts (LBA), an affordable post-tax lifestyle reimbursement account for the culture-driven employer. Based in Charlotte, NC, Flores has emerged as the leader in the CDHP market through a service model founded upon innovative technology, dedicated professionals, and an uncompromising commitment to superior service. For more information, visit the Flores website and follow them on LinkedIn.
- Cindy Bistany
- Director of Business Development and Strategic Alliances
- (828) 693-3595
- cindy@flores247.com
- Clay Peddycord, GBA, CFC
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- clay.peddycord@flores247.com
- Aaron Hunt, MBA, CDHC, HSAe, Certified COBRA Administrator
- Director of Business Development and Strategic Alliances
- (800) 532-3327
- aaron.hunt@flores247.com