How LSAs Work
Providing meaningful wellness and lifestyle benefits beyond traditional coverage.
Lifestyle Spending Accounts (LSAs) are designed to help pay for certain expenses as allowed by the employer’s plan. Balances remaining in the account at the end of the plan year may or may not be carried forward into the next plan period. Because each plan is unique, employees want to make certain that they review their LSA Plan Summary to understand what is eligible under the plan. LSA plan summaries are in the participant portal. Employees log in to their accounts and go to the Tools & Support page.
Submit a claim online by logging into your account on the participant portal or on the Chard Snyder mobile app for quickest processing and reimbursement. Paper claims can be submitted by fax or mail, but expect longer processing times for these methods. Supporting documentation required will vary by plan. After the claim and supporting documentation have been reviewed and the expense approved, payment is issued to you via direct deposit (for fastest processing) or check. Sign up for direct deposit on the portal or mobile app. Most reimbursement checks are received within two weeks depending on your plan’s payment option.
Benefit payments made from an LSA are not tax-free. Your employer will collect income tax through payroll as the benefit is used or report any amounts you have received as income on your W-2. You will only owe taxes on the amounts that you have claimed.