Forma

In 2023, 43% of benefits leaders increased their core healthcare budgets. This year, that number surged to 53%. Yet, 72% of employers kept their well-being program budgets unchanged. Even more strikingly, 81% maintained their family support benefits budgets. What does this tell us? Despite rising medical costs, the budgets for perks and wellness programs remain largely static. Get ahead of the challenge. Lifestyle Spending Accounts (LSAs) offer a smart, cost-effective way to provide meaningful support. By consolidating programs, they boost employee engagement and usage without breaking the bank. Embrace the change. Elevate your benefits strategy. #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

Something you don't hear every day: "Way to go, IRS!" In case you missed this, a recent IRS ruling could open up a world of possibilities for millions of workers. Employees at one company now have the flexibility to decide where their employer's retirement contributions go—whether it's into a 401(k), a health savings account, retiree health-reimbursement arrangement, or even student loan payments. This kind of choice gives workers more control over their financial future. At Forma, we've always lobbied for more choice and flexibility, and this is a perfect example of how benefits flexibility makes our lives better.  Bold prediction: this ruling will become the standard, and Forma will help lead the way! Mercer describes the ruling well: https://lnkd.in/gVYTGaJ4 Matthew Calloway Dorian Z. Smith Brian Kearney

🔍 Claim of the Week 🔍 This week’s claim of the week spotlights a Forma member who used their Lifestyle Spending Account (LSA) to purchase a metal detector! That's right—with a Forma LSA, even your passion for exploring the great outdoors and unearthing hidden treasures can be realized, making personal wellness and hobbies more attainable than ever. LSAs provide the flexibility to invest in what brings you joy, whether it's discovering new interests or diving deeper into a favorite pastime. It's about tailoring your benefits to what truly excites you. Any treasure hunters out there? How have you creatively used your LSA? Share your stories and inspire others! #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

Attention global employers! Here's how you can impress your workforce with customizable benefits—without breaking the bank. Employees crave personalized perks, but scaling these across a global team of 800+ can be challenging. The answer? Lifestyle Spending Accounts, according to Bitsight. By empowering employees with lifestyle benefits budgets, they choose what recharges them, leading to a boost in morale and loyalty! Curious to learn more? Check out this on-demand webinar to discover Bitsight's strategies for rolling out flexible benefits worldwide: - Discover what employees truly value (and why flexibility is key) - Learn crucial tips for balancing the needs of employees and employers - Explore how to optimize benefits while keeping expenses low Empower your team with the freedom of global benefits on a local budget. Watch the on-demand webinar here: https://hubs.la/Q02RJl7t0 #FlexibleBenefits #EmployeeExperience #GlobalHR

I’m excited to announce that Forma has once again been recognized in G2's Fall Reports, securing the top spot in several key categories. With 17 badges and over 578 reviews, this recognition reflects our ongoing commitment to providing flexible, innovative solutions that support companies of all sizes. Here’s where we ranked: - #1 in Lifestyle Spending Accounts (LSAs) - #1 in Benefits Administration: Enterprise Grid - #1 in Benefits Administration: Best Relationship & Easiest To Do Business With - #1 in Benefits Support We’re especially thankful for the feedback we’ve received for User Satisfaction, Performance, and Member Support. It’s a privilege to be trusted by so many, and we’re looking forward to continuing to evolve our partnerships and solutions. Thank you for your support as we move forward! #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

How much impact can a $20 monthly LSA fund have? A lot more than you might imagine. In a challenging economy, every dollar counts. But did you know that even a small monthly investment can make a big impact on your team’s well-being? Let’s look into this: 💼 A Gen Z project manager might use it for pet insurance, a Headspace subscription, and a Peloton app membership. 📊 The Millennial engineer? They're opting for a physical well-being coach, a HelloFresh subscription, and a reading app for their kids. 🧑💼 Your Gen X nurse values their gym membership, ergonomic office furniture, and financial planning services. 🌳 And the Baby Boomer CEO? Think vitamin supplements, estate planning services, and sleep wellness tools. What would you do with an extra $20 in your pocket each month for well-being? Tell us in the comments below. #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

🎻 Claim of the week 🎻 Sometimes, investing in personal growth can lead to unexpected rewards. This week, we’re sharing a touching story from a member who used their Lifestyle Spending Account (LSA) to unlock a new passion—cello lessons! Our member, who had always dreamed of learning to play the cello, decided to use their LSA to fund a series of lessons. This not only fulfilled a lifelong aspiration but also became a source of relaxation and mental wellness after busy workdays. With their LSA covering the cost, they could fully immerse themselves in the joy of music without worrying about the expenses. Whether it's pursuing a new hobby, enhancing your skills, or simply finding a creative outlet, LSAs provide the flexibility to support your personal journey. Have you used your LSA to discover a new passion recently? Share your experiences in the comments below! #FlexibleBenefits #Forma #EmployeeBenefits #LifestyleSpendingAccount

11 essential LSA questions answered. LSAs are becoming a powerful tool for customizing employee benefits to meet diverse needs. 🎯 Our latest newsletter answers 11 Essential FAQs about LSAs, covering key topics like tax implications, global implementation, and eligible expenses. 🚀 Stay ahead of the curve by subscribing and getting insights to maximize the impact of your benefits package. 📖 Read the full newsletter and be sure to subscribe for monthly updates. #EmployeeBenefits #LSA #HRInnovation #Forma

Are you overestimating your benefits budget by thousands of dollars? 💡 When setting budgets for employee benefits, many employers make a costly mistake: using USD without considering cost of living adjustments (COLA). This approach can inflate budgets, leading to requests for more funds than actually needed. 📈 Here’s a startling data point: By adjusting for purchasing power, companies can estimate costs 20% lower than initially projected. For instance, when using USD to estimate costs in the UK, India, and Mexico, one employer's budget was overestimated by over $200K! That’s money that could be better allocated elsewhere. Forma offers COLA guidance to help employers design employee benefits programs equitably for a worldwide workforce. Check out the blog here: https://hubs.la/Q02QY0T10 #EmployeeBenefits #Budgeting #HRInsights #GlobalWorkforce

Happening tomorrow! 2025 Benefits Selection - Which benefits should you be considering for your distributed team? Join us September 24th for an insightful panel webinar hosted by SafetyWing, titled "Which benefits should you be considering for your distributed team?". The landscape of employee benefits is evolving as companies recognize the need to address localization for their global workforce. Over the past three years, SafetyWing surveyed over 18,000 HR and business leaders. In 2021, 32% had employees in two or more countries, with 41% planning to expand internationally. By 2024, 71% reported having employees in multiple countries, with an additional 16% looking to add headcount abroad. So, not only is remote work here to stay, but "borderless" work has also now become a fixture. With the advent of EORs and increased borderless benefit offerings, moving to a borderless model and addressing the needs of employees is easier than ever. What You'll Learn: - Emerging Trends: Discover the most sought-after benefits in 2025. - Customization & Flexibility: Learn how to tailor benefits packages that meet the diverse needs of employees. - Legal & Compliance Considerations: Stay ahead of the curve with insights on the legal aspects of remote benefits. - Technology Integration: Explore the tools and platforms that simplify benefits administration for a distributed team. Want to do right by your employees in 2025? Register today! 🔗 Register now and secure your spot! https://lnkd.in/ghN29PFc Note: A recording of the webinar will be provided to all registrants. Moderator Sam Laliberte, Event Organizer & Host Panelists Dajana Berisavljević Đakonović, Head of People, Toggl Paola Macena, HR Manager, TinyBytes Jason F., CEO, Forma