Elevating Workplace Culture with LBS's Award-Winning Approach

7/10/24

Lifetime Benefit Solutions (LBS) is a renowned leader in delivering comprehensive and innovative benefits packages designed to attract and retain top talent. With nearly five decades of experience, we have established ourselves as the go-to partner for brokers and employers seeking turnkey solutions for their business needs.

Exceptional Service and Innovative Solutions

We know what it takes to be a top employer because we are one. Our recognition as one of Central New York's Best Places to Work by the Central New York Business Journal and the recipient of the 2024 Gallup Exceptional Workplace Award underscores our commitment to creating an environment where top talent thrives. We leverage this experience to help other businesses attract and retain their own exceptional employees through unparalleled benefits offerings.

Innovative Account Options

Our diverse suite of spending accounts is designed to meet the varied needs of employees, helping businesses offer benefits that truly matter. Research consistently shows that employees value benefits that enhance their financial security, health, and overall well-being:

  • Flexible Spending Accounts (FSA): Allows employees to save pre-tax money for out-of-pocket health care or dependent care costs. According to a survey by the International Foundation of Employee Benefit Plans, FSAs are one of the top requested benefits by employees1.
  • Health Reimbursement Accounts (HRA): Employers can assist employees with health care expenses through reimbursements from an employer-funded account. Studies show that HRAs help employees manage high medical costs, leading to higher satisfaction2.
  • Health Savings Accounts (HSA): Provides a tax-advantaged savings account for future qualified medical expenses. The Employee Benefit Research Institute found that HSAs significantly increase employee engagement in managing health care expenses3.
  • Lifestyle Spending Accounts (LSA): Covers a wide range of extras from pet care to ski passes, catering to employees' diverse interests and lifestyles. A recent Society of Human Resource Management (SHRM) study highlights the growing importance of lifestyle benefits in attracting millennials and Gen Z workers4.
  • Student Loan Repayment: Helps employees pay down tuition or student loans faster, reducing financial stress. Research by SHRM indicates that 86% of employees under 40 consider student loan repayment assistance a critical benefit5.
  • Qualified Transportation Benefit (QTB): Allows employees to use pre-tax dollars for commuting expenses. According to the American Benefits Council, transportation benefits rank high among urban employees6.

These innovative options ensure that businesses can cater to the unique needs and preferences of their workforce, fostering an engaged and satisfied employee base.

The LBS Difference

Our workplace philosophy emphasizes flexibility, professional development, and community engagement, elements that we believe are crucial in attracting and retaining top talent:

  • Hybrid Work Environment: Empowering employees to work where they perform best, whether in the office or remotely.
  • Tuition Assistance Program: Supporting continuous learning and growth.
  • Volunteer Time Off: Providing employees with paid time off to volunteer, fostering community involvement.

Why Partner with LBS?

Choosing LBS means partnering with a company that understands the importance of employee satisfaction and well-being. Our proven track record, innovative solutions, and award-winning workplace culture ensure that your business and employees receive the best possible benefits experience.

Together, let's build a future where exceptional benefits and a supportive work environment drive success and satisfaction for all. Partner with LBS to experience benefits that go beyond expectations.

Sources

  1. International Foundation of Employee Benefit Plans. "Top Trends in Health Care and Employee Benefits." IFEBP.
  2. Employee Benefit Research Institute. "Health Reimbursement Arrangements and Health Savings Accounts: Trends and Outlook." EBRI.
  3. Employee Benefit Research Institute. "The Impact of Health Savings Accounts on Employee Engagement." EBRI.
  4. Society for Human Resource Management. "The Evolution of Benefits: Workforce Preferences and Trends." SHRM.
  5. Society for Human Resource Management. "Student Loan Repayment Benefits: Employee Preferences and Impact." SHRM.
  6. American Benefits Council. "Transportation Benefits: Key to Employee Satisfaction in Urban Areas." ABC.