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COVID-19 Developments: BASIC is committed to providing our clients and their employees with the very best service possible during this difficult period. We encourage Employers and Participants to take advantage of our e-technology options. Employers and Broker Partners, stay up-to-date with the latest COVID-19 news by checking out our BASIC Blog.

Fringe
Benefit Accounts

We offer integrated employee fringe benefits such as Disaster Relief Accounts to help boost your benefits package.

Fringe Benefit Account features that benefit you:

Custom Tailored Plans

Fully Integrated With All of
BASIC’s CDA Services

Industry Leading Smart Debit Card

Offering Employee Disaster Relief Accounts and accounts reimbursing employee business expenses help increase employee engagement and retention.

Industry Leading Benefit Administration

BASIC helps make your benefits package too good to pass up.

Fringe Benefit Account Options

Employee Crisis Fund Account

The Federal Reserve has reported that 40 percent of American families do not have sufficient savings to deal with a $400 emergency expense. Let BASIC help you provide for your employees in need.

The Disaster Relief Payment program under Section 139 allows employers to provide tax-advantaged funds to employees impacted by a qualified disaster. Employees receive the funds pretax and it is tax-deductible for employers. Reimbursable expenses related to COVID-19 include expenditures for childcare and tutoring services, costs associated with setting up or maintaining a home office, and medical expenses not covered by insurance.

Employers can also gift post-tax funds to employees struck by any number of financial hardships resulting from a sudden, severe, overwhelming, and unexpected event that is beyond their control.

Accountable Plans Accounts

Accountable Plans Accounts by BASIC allows employers to offer tax-advantaged reimbursements to their employees for several job related expenses. With five unique account options, Accountable Plans Accounts are flexible enough to satisfy the needs of employers in a multitude of industries.

Optional offerings include:

Home Office
Professional Business Expense
Travel and Business Meals
Work Clothes
Workplace Tools

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Lifestyle Reimbursement Account

The Lifestyle Reimbursement Account by BASIC is a creative way for employers to reimburse employees for their lifestyle and wellness choices. It’s a great way to invest in your employees and help improve their overall wellbeing by reducing financial barriers to the things they care about. Lifestyle Reimbursement Account funds are considered taxable income, so the employer decides which expenses to reimburse.

Examples of reimbursable expenses include:

Fertility
Gender affirmation
Pet wellness or insurance
Wellness classes

BASIC Consumer Driven Accounts (CDA)

A cutting edge integrated system allowing employers and participants to manage all their benefit plans with one card, one website, and one mobile app.

Employers can choose to enrich their benefits package with a wide range of healthcare benefit accounts like FSA, Simple HRA, or HSA.
Combine with a variety of available benefit accounts such as Dependent Care, Commuter, Wellness Rewards, Disaster Relief Accounts, and Education Reimbursement.
Participants receive a BASIC Card & MyCash account to make reimbursement easier than ever.
Manage benefits anywhere, anytime in the BASIC benefits mobile app.

We make it easy

BASIC takes the time-consuming management of your employee benefit Consumer Driven Accounts off your plate. We handle all the tracking, verification, reimbursement, and reporting.

We’ll help you design your plan
Each participant receives a BASIC Card linked to all enrollment benefits
Our experienced administration team is available for participant questions
Any out of pocket expense can be submitted for reimbursement via the BASIC Benefits mobile app