Life Planning Accounts

Differentiate Your Rewards | Fully Customizable | Single Platform Integration

Life Planning Accounts

Add an Option to the Benefits Mix


HR professionals are familiar with account-based benefits such as health savings accounts (HSAs), flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). Now there’s a new type of account that more and more progressive employers are adopting - life planning accounts (LPAs).

What is a Life Planning Account?

Like the more familiar employer-sponsored accounts, LPAs are a means for companies to help employees support the health and wellness activities in their lives. But LPAs differ from other spending accounts in two key ways:

  1. LPAs are funded by employers with money that is taxable as income to employees when they spend it, unlike the tax advantages of HSAs, FSAs and HRAs, for which withdrawn funds are not taxable.
  2. Employers decide how employees can spend their LPA funds, with acceptable product and service categories. Many employers see this ability to limit and direct employee spending of employer-provided money as a compelling reason to offer LPAs.

Unlike funds contributed to an HSA, employers pay for only the amounts employees actually spend, which can make a big difference at the year-end budget review. An LPA also adds flexibility to benefits plans.

LPAs Can Fund Employee Spending for Wellbeing

Let your employees choose how to spend their life planning account, based on wellbeing category “pillars” of approved expenditures. Categories and parameters are completely customizable for your organization.


Fitness & Exercise

  • Gym memberships
  • Yoga classes
  • Athletic wear
  • Workout equipment

Retirement Planning

  • 401(k)
  • Roth 401(k)
  • Financial counseling

Student Loan & Education

  • Loan payments
  • Tuition
  • College savings plans

Charitable Giving

  • Donations
  • 501(3)(c) entities
  • Other approved organizations

Emergency Fund

  • Hardship
  • Emergency cash
  • Approved eligible expenses

Health Expenses

  • HSA
  • Nutritional counseling
  • Supplements


These are just examples. Organizations can include anything that they believe promotes employee wellness, including things like golf clubs, cookbooks for healthier eating, and activities that challenge them. They can also explicitly prohibit categories or items such as nicotine or alcohol.

Life Planning Account Platform

The PTO Exchange platform allows your company to customize and launch an LPA program quickly and easily. Just select the amount of your reward, decide on the approved pillar categories, and set your policies. You’ll also need to set up administrators and a process for adjudication for reimbursement requests.
PTO Exchange can help on all these steps, including on-going adjudication services. Your rewards program can be completely outsourced for simplicity, security and speed.


Debit Cards for Additional Convenience

Offer your employee an easy way to access their LPA funds. PTO Exchange offers employers an additional option of pre-loaded debit cards. These can be configured based on your specific parameters of approved vendor categories.


Integration with Payroll and HR Systems

The PTO Exchange platform integrates seamlessly with leading payroll providers including Kronos/Ultimate, Paylocity, ADP, Workday, TriNet, and SAP, among others.
Payroll integration refreshes your employee data each pay period, ensures that LPA reimbursements are tracked and taxed properly and LPA balances adjusted accordingly. Smaller companies can use the built-in PTO Exchange Data Import / Export tool to manage payroll interactions. Larger customers can set up automate file interfaces that run outside of normal business hours and ensure their data are always up-to-date and accurate.
PTO Exchange can accommodate a variety of data layouts and supports single sign-on (SSO).

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Your Preferred Partner for Life Planning Accounts

PTO Exchange has developed a flexible benefits platform that allows you to get your LPA up and running quickly.

Key benefits of partnering with PTO Exchange for your LPA:

  • Cloud-based fully secure platform
  • Fully configurable and customizable
  • User-centric design
  • Integration with major payroll providers
  • SOC-2 certified
  • Flexible pricing - PEPM or transaction
  • Quick implementation
  • Adjudication services
  • Plan and policy consulting
  • Debit card option
  • Accommodate a wide range of file types
  • Marketplace

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