Benefits don’t have to be boring. Specialty Accounts can help employers tailor their benefits offerings to include fun and customized benefits employees will actually use! Specialty Accounts are financial accounts that allow employers to set aside funds to reimburse employees for a wide variety of expenses, including entertainment-related costs. These customized benefits accounts help attract and retain top talent, while also providing a perk that employees will appreciate. Specialty Accounts are a great way to show employees that you care about their work-life balance and want to provide them with benefits that will actually support their busy and sometimes stressful lives.
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
CREATING FUN AND CUSTOMIZED BENEFITS FOR EVERY EMPLOYEE
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 entertainment expenses into a Specialty Account. Here are ideas from similar (non-carded) wellness accounts BRI has helped to bring to life:
ENTERTAINMENT
Common ineligible expenses: gambling/casino fees,
Amusement Park passes
Aquarium tickets
Arcade tokens
Axe throwing
Bingo/trivia/game events
Books, software, and magazine subscriptions
Comedy clubs
Escape room
Hobby classes (art, sewing, cooking, gardening, etc.)
Movie, theater, event, and concert tickets
Museum/art gallery passes
Music lessons
Podcasts (Google, Apple, Spotify)
Rope climbing/rock climbing courses
Sports entertainment (game tickets, bowling, golf/mini-golf, etc.)
State/national park passes
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. Check out some of our other Specialty Accounts highlights here!
Don’t want to wait? Check out our overview flyer or request a proposal below
