Which Employee Benefit Accounts Are Important in Today’s Workforce?
When most people think about employee benefits, their minds go straight to health insurance. But today’s employers are thinking much broader, and so are their employees. As workforce expectations evolve and competition for talent intensifies, businesses are looking for ways to stand out with benefit offerings that support the whole person, not just their medical needs. That shift has put employee benefit accounts like Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Lifestyle Accounts, and even charitable giving options front and center.
Going Beyond the Traditional Benefits
Employers know that offering group health insurance is no longer enough to attract or retain top talent. According to the 2025 SHRM Employee Benefits Survey, organizations are putting more emphasis on non-insurance benefits. In fact, leave benefits, retirement planning, family care, and wellness support were all ranked as “very important” or “extremely important” by at least two-thirds of employers.
That broader scope of benefits includes everything from dependent care assistance and education reimbursement to mental health resources and transit benefits. These types of programs have risen in popularity and directly support the needs of employees at every life stage.
What Employees Actually Want from Their Benefits
Of course, employers aren’t expanding their benefit offerings just for the sake of variety. They’re responding to what employees are asking for, and those needs are loud and clear.
Work-life balance continues to rank highly and often highest in terms of what employees value most at their job. Simply offering competitive pay is not enough for the modern workforce.
Another emerging priority is purpose-driven benefits. A growing number of employees, especially younger generations, want to work for companies that align with their values. That includes access to charitable giving accounts, volunteer time off, or support for community involvement. Consideration for and benefits addressing these areas are becoming expected parts of modern day benefit strategies.
Employees are asking for benefits that feel personalized, relevant, and supportive of their everyday lives.
Employers Want Simplicity and So Do HR Teams
Managing a growing range of benefits can be a challenge for employees and a full-scale administrative headache for HR teams. According to WTW’s 2024 Global Priorities for Employee Benefits report, nearly 67% of multinational employers are actively working to consolidate vendors and streamline benefit administration across locations, from leave programs to wellness and financial accounts. The report emphasizes that, “Benefits are typically managed locally, which leads to many vendors to manage,” and highlights that leading employers are moving toward centralizing programs to reduce complexity and improve governance
The Win-Win in Modern Employee Benefit Accounts
It’s clear that both employers and employees are looking for something more from today’s benefit offerings. Employers need a solution that checks all the boxes: ease of administration, cost-effectiveness, and broad appeal. Employees want benefits that fit their lives, support their goals, and reflect their values.
That’s where BASIC’s approach to employee benefit accounts comes in.
We offer a comprehensive benefits solution that includes FSAs, HSAs, HRAs, fringe and commuter benefits, education reimbursement, wellness programs, charitable giving accounts, and COBRA administration – all managed on a single integrated platform Consumer Driven Accounts (CDA). That means no more juggling siloed vendors or wrestling with multiple portals. With just one login, employers can manage everything they need, and employees can easily access and use their benefits in real time.
This all-in-one approach helps employers deliver a benefits package that goes beyond the traditional benefits package, offering flexibility, tax advantages, and genuine value! Plus, employers get the added perk of simplifying the administrative side of things. No matter what your organization currently offers or how many employees you have, our platform helps you build a benefits experience that works for every type of workforce.
If you’re ready to upgrade your benefits platform and offerings to what employees expect and you deserve, request a proposal today!
