Help your employees pay for unexpected expenses in times of need
We recognize it’s a difficult time for employers and their employees and we at TASC would like to make it easier. We’ve created a collection of new and existing account offerings that are each being made available at NO COST to current clients on Universal Benefit Account® for the remainder of 2020. There are five areas you can consider:
Emergency Expense Reimbursement Account
With an Emergency Expense Reimbursement Account, employers can help cover unforeseen costs for their employees during an emergency or difficult circumstance. Eligible items for reimbursement include medical expenses and dependent care costs for qualifying dependents.
Emergency Loan Account
You can offer emergency funds to your employees who might need financial assistance for unexpected expenses during a difficult time with an Emergency Loan Account. This interest-free loan account allows you to give employees immediate access to borrowed funds to minimize financial stress in times of need.
Crisis Fund Account, outside a 501(c)(3)
Create a distribution method for individuals to contribute to and specify who receives their donations. May be funded with employee or employer contributions. Can be used by any employer or organization.
Crisis Fund Account, within a 501(c)(3)
Establish a specified fund within a 501(c)(3) organization with IRS-prescribed requirements. Ensure objective and compliant administration with valuable, timely help for employees in need.
Disaster Relief Funding Account
You can create point-in-time donation funding for a specific charity during emergencies or crises. These accounts can be funded by employer and/or employee donations and are allocated to the charity selected.
Employer Medical Credit Account
Employers can help protect your employees’ health and well-being and enhancing your value as an employer. It helps employees and their families get the money to pay for the care they need while keeping them fully employed.
Emergency Expense HRA
Consider an Emergency Expense HRA to reimburse for all 213(d) medical expenses as a result of a public healthcare crisis (i.e., a pandemic) – including additional co-pays, prescriptions and other out-of-pockets costs.
Emergency Medical Loan Account
Employers can offer emergency funds to their employees who might need additional financial assistance for qualifying healthcare expenses at any time throughout the plan year.
Home Office Account
Do you have employees working remotely on a temporary or permanent basis? The Home Office Account can be added to your benefit plans to reimburse your employees for the cost of qualified office equipment and supplies necessary to sufficiently equip their home office or workstation.
Office Supplies Expense Reimbursement Account
With employees working remotely, you can reimburse for regular office expenses such as reams of paper or printer ink. You can define this account to be more selective on which expenses to reimburse.
Work Clothes Account
Fund a Work Clothes Account to reimburse your employees for the clothing and equipment they are required to wear for their profession. This includes necessary uniforms and safety items to be worn, such as protective goggles, gloves, or shoes required to perform their jobs
Back-Up Care Reimbursement Account
Back-Up Care Reimbursement Account offers employees peace of mind when they face unexpected dependent care challenges. Employers can fund this account to help employees secure and pay for temporary care for their dependents, young and old, when regular care falls through.
Income Continuation Account
Offer your employees a way to bridge the gap of unpaid time during the waiting period before short-term disability begins.
Emergency Savings Account
Give employees an easy way to put away money for a “rainy day.” Having an account where they regularly deposit funds means they are planning ahead for unplanned emergencies or situations.
Student Loan Reimbursement Account
Provides a way for your employees to get reimbursed from you for their student loan payments. Consider that the Department of Education has made it possible for borrowers to suspend their Student Loan Payments through September 30, 2020 without penalty or interest
Giving Savings Account
Help your employees by providing them an opportunity to put money into a savings account earmarked for giving to a charitable cause but if something comes up whereby the money is needed the employee is still able to access and redirect.
Donor Advised Fund Individual Giving Account
Offering your employees a simple way to give to any of thousands of 501(c)3 organizations with a giving account. This allows for planning and budgeting of charitable giving over the year.
Crisis PTO Account
Allow your employees to donate from their own PTO balance to a PTO bank that can be made available to employees in need who do not have enough time for an event or crisis.
Life Event PTO Account
As an employer you can give extra PTO time during times of crisis or unplanned life events (legal matters, identity theft, immigration needs) for affected employees.
Partial Universal Deduction Giving Account
Help employees facilitate through payroll deduction the allowed $300 total charitable donation (via CARES Act) that counts as additional tax deduction for 2020.