Pet Wellness Reimbursement: A Modern Employee Benefit
Pet Wellness
There has never been a better time to add pet wellness reimbursement to your employee benefits package. The pandemic caused a big shift in the employment landscape, with many employers shifting to either temporary or indefinite work-from-home policies. That change meant employees have spent more time at home, and more time around their pets. Additionally, nearly 900,000 pets were adopted in 2020, with increasing demand for adoptions as of late. The extra time spent with pets and increased demand for adoptions means now is the perfect time to offer a benefit perk of reimbursement funds to your employees for their animal companions.
Why Employers Should Adopt a Pet Wellness Reimbursement Plan?
The pet wellness reimbursement account is a fringe benefit that is appreciated by all pet owners, giving them financial flexibility to improve the lives of their pets and even their own. Reimbursable expenses are determined by the employer, so eligible expenses can be tailored to your staff’s specific needs. Employees can pay for day-to-day pet expenses like food, grooming accessories, training classes, and much more. Plus, some employees without pets may have been waiting to purchase or adopt a pet due to financial constraints and can now use their benefit funds to help with the associated costs.
Another factor in offering a pet wellness reimbursement plan is employers choosing to return to pre-pandemic in-person work. Bringing employees back into the workplace means the pets must either stay at home or join them at work. This is the perfect scenario to offer pet wellness reimbursement funds that can be used for travel harnesses, dog walking fees, automatic feeders, and many other expenses to assist the return to on-site work.
BASIC Can Take Your Benefits Package to the Next Level!
BASIC is a leader in benefits administration, offering over 30 modern and integrated benefits on a single platform (Consumer Driven Accounts, or CDA). Pet wellness is part of our Lifestyle Reimbursement Account, one of many options available under the BASIC Fringe Benefit Accounts, and allows employers to offer reimbursement funds for different lifestyle expenses including gender affirmation, fertility, pet, and other similar expenses. The modern world brings modern expenses that aren’t included in traditional benefit packages, making Fringe Benefits a fantastic way to set yourself apart as an employer and attract the most talented employees.
