Specialty Accounts can help employers tailor their benefits offerings to better support remote employees. These accounts can be used to reimburse employees for expenses related to their work-from-home setup, such as ergonomic furniture or office equipment. Specialty Accounts can also be used to cover the costs of additional internet bandwidth or phone service. By offering these types of benefits, employers can show that they are willing to invest in their remote employees and provide them with the resources they need to be successful. In addition, these benefits can help to attract and retain talented workers who might otherwise be drawn to a company with more traditional benefits. As more employers move to a remote workforce model, specialty benefit accounts will become increasingly important in supporting and retaining these employees.
HOW SPECIALTY ACCOUNTS WORK
Specialty Accounts are customizable and built for the needs of individual companies, regardless of size or industry. In three simple steps, you can create a personalized benefits plan.
- Employers start by working with their assigned representative to select expense categories from an eligible, predefined list. Working together, you can create a program that meets the company’s needs and helps boost the employee experience.
- The employer sets up the rules.
- Will funds roll over? Opt to allow employees to keep (rollover) unused funds at the end of the year, or not, depending on the company budget.
- How much (and how frequently) will funds be provided? Control how to distribute funds.
- Who can enroll? Set parameters to meet in order to participate in the benefit.
- Employers decide how to use the funds. There are two options to choose from: carded and non-carded programs. A carded program allows employees to pay for eligible plan expenses using their Beniversal® Prepaid Mastercard®. Participants can take advantage of convenient contactless payments by connecting their Beniversal Card to digital wallets like Apple Pay®, Google Pay®, and Samsung Pay®. BRI’s sophisticated auto-approval logic minimizes the need for paperwork.
The non-carded option is reimbursement only. Participants pay for expenses using their preferred payment method. Then, they reimburse themselves through BRIWEB, BRIMOBILE, or by mailing in a claim form with required documentation
THE EASE OF CREATING BENEFITS FOR REMOTE EMPLOYEES
Whether you choose to create a carded or non-carded program, you will be providing a custom benefit tailored for your remote employees.
There are many ways to include various home office costs into a Specialty Account. Here are ideas from similar (non-carded) wellness accounts BRI has helped to bring to life:
HOME OFFICE SUPPLIES
Common ineligible expenses: Computers/laptops, phone charging cables, speaker system, Apple products (if a PC-centric company),
- Basic office supplies (pens, sticky notes, notebook, highlighters, etc.)
- Office Chair
- USB for dual display
- Wellness office equipment (ergonomic equipment, treadmill desk, standing desk, swissball chair, etc.)
With all of these options, and the opportunity for more, BRI is confident we can find a benefits plan that works for you and your employees.
As part of our ongoing Specialty Account series, we will continue to cover our most popular Specialty Accounts. We will discuss how each can be used and tailored for specific companies and industries. So, don’t forget to check back next week when we feature an in-depth look at Specialty Accounts: Entertainment.
Don’t want to wait? Check out our overview flyer or request a proposal below