The mental health of employees consistently ranks as the biggest challenge facing businesses today. According to a report from the Office of the U.S. Surgeon General: 76% of employees report at least one mental health condition. 84% say their work environment contributes to mental health challenges.
Flexible spending accounts (FSAs), health reimbursement arrangements (HRAs) and health savings accounts (HSAs) can help lessen the financial burden of employees’ medical costs. All three allow employees to set aside pretax dollars so they (and their family members or dependents) can pay for qualified medical expenses (QMEs).
Voluntary benefits round out a company’s employee benefit offerings, raising them from a plan that just checks the box to a comprehensive plan employees can personalize.
