Available now! 2026 global lifestyle spending accounts benchmark report

Explore Forma's benchmark report, the definitive resource for insights and trends about LSAs and the flexible benefits landscape.

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Lifestyle Spending Accounts Explained

New to LSAs? This primer will make you an expert in minutes.

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Case Study: Microsoft's global LSA strategy

How Microsoft’s benefits program for 220K employees across 100+ countries set new standards for global employee wellness.

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10 must-haves for the best FSA vendors

Learn about the top 10 must-haves for an FSA vendor and ensure the successful administration of your healthcare, vision, dental, and caregiving expenses.

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10 considerations when choosing a FSA vendor

1. Auto-substantiation setup: Simplify reimbursing eligible FSA expenses. Your vendor should follow the IRS rules for claims substantiation. Ensuring your members pay with an IIAS-enabled* prepaid debit card that auto-substantiates certain expenses is a great way to deliver on this mandate – no receipts required.
2. Simple receipt upload process: Members should be given the freedom to choose their preferred reimbursement method, including manual receipt uploads. For members to submit their receipts on time, a vendor needs an easy process and clear communication.
3. Easily identify eligible expenses: Provide links to FSA stores on Amazon, Walgreens, and CVS to help members know what items are FSA eligible.
4. World-class support: Your members will need exceptional support to address their questions about claims or other topics.
5. Support all types of FSAs: Ensure that your vendor can offer all flavors of FSAs, including Limited Purpose FSA (LPFSA) and Dependent Care LFA (DCFSA).
6. Accommodate large DCFSA expenses: Ask your vendor if members can submit large expense claims just once and get automatically reimbursed as funds are loaded.
7. Compatibility with HSAs: Make sure that your vendor can accommodate pairing a LPFSA with an HSA seamlessly.
8. Effective employee education and outreach: Educate employees on the intricacies of FSAs, including the ‘use it or lose it’ component.
9. One platform for all spending accounts: Having all of your company’s spending accounts in one place makes administration and support more effortless for you.
10. Straightforward non-discrimination testing (NDT): Ensure your vendor is equipped to simplify NDT and provide recommendations to minimize risks of failure at year-end.

Forma’s product and expertise will transform your FSA program, bringing a modern experience to your employees. For more information about Forma's FSA offering, schedule a consultation with one of our experts.

*IIAS can only be used for HCFSA, LPFSA, and HRAs.