Invest in Your Employees & Your Success with a Quikcard Wellness Spending Account
Support employee wellness and better business with a Quikcard Wellness Spending Account (WSA). This taxable allowance empowers employees to invest in wellness-related activities and products that support better physical and mental health.
In turn, Quikcard WSAs work to boost morale, strengthen employee retention, and cultivate more productive work environments.
The Benefits of a Quikcard WSA
Employee Assistance Program Benefits
- Be recognized as an employer who goes above and beyond. Employees value employers who invest in their wellness, who go beyond traditional norms to demonstrate their genuine commitment to employees
- Reduce absenteeism. Happier, healthier employees are less likely to miss work
- Support employee retention. Reduce turnover by nurturing a supportive culture—one your employees want to be part of
- Attract and retain top talent. Offering WSAs can be a key factor in attracting and retaining top talent in today's competitive job market
- Benefit from cost certainty. As an employer, you define the annual maximum amount and the wellness benefits your employees are eligible for
- Explore flexible options. As an employee, you have the freedom to choose from a broad range of employer-approved benefits
Fuel Your Team's Success with Quikcard's WSA
- Quikcard makes it easy for employers to add a WSA to their existing Quikcard HSA plans by making a simple amendment to the Plan Administration contract
- Funding for the WSA balance flows through the same process as an HSA—with similar reporting
- With the same Quikcard number, web portals, and mobile applications, administering WSAs is efficient and straightforward
Wellness Simplified
How a WSA Works
As an employer, you can quickly and easily add a Quikcard WSA to your existing health plan.
Choose between:
- A “Stand Alone” WSA. This option has a defined WSA balance that’s separate from the HSA maximum.
- A “Flexible” WSA. This option offers even greater flexibility. Here, the employer decides the total maximum amount for employees. Employees can then designate a portion of their total maximum to the HSA (non-taxable) and WSA (taxable) components of their Flex Account. Speak to your broker or contact Quikcard for further details.
Some items to note:
- WSA claims are taxable to the employee and must be included in their yearly income on their T4.
- A taxable benefit report will be provided by Quikcard to employers at the end of each personal tax (calendar) year.
- WSAs are eligible for employees only (not spouses or dependents). Receipts must be in the employee’s name for reimbursement.
A Quikcard WSA Has You and Your Employees Covered
A Quikcard WSA is commonly used to cover expenses that are not eligible in a Health Spending Account (HSA). As an employer, you determine the broad categories of wellness benefits eligible under your WSA, including:
- Fitness-related services – Participation in physical activity that promotes good health
- Fitness equipment – Purchase of fitness and sports equipment that promotes good health
- Dental-related services – Any unpaid amounts for procedures not covered under Core Benefits or Health Spending Account
- Health-related services – Products and services that improve health and wellbeing
- Work-life balance – Services that improve work-life balance
- Educational and personal development – Supporting continuous learning and career development
- Professional services – Services for personal care
- Green living – Products and services that promote green living
- Miscellaneous – Products for personal wellbeing, computing, planning, scheduling, and communication
- Other – Items and services that enhance wellness
- Fitness-related services,Fitness equipment
- Dental-related services, Health-related services
- Work-life balance,Professional services
- Educational and personal development, Green living
Be A Stand Out Employer—One Everyone Wants to Work For
At Quikcard, we’re here to empower your business success by nurturing the health and wellness of your employees. For more information on Quikcard’s Wellness Spending Account options and to create a tailored plan that meets your needs.