How to use your Lifestyle Spending Account

Your employer is making your health and well-being a top priority by providing the opportunity to participate in a Lifestyle Spending Account (LSA), a new type of benefit that can help you get and stay on track with your physical, emotional and financial wellness goals. With an LSA, you can pay for a wide range of wellness-related purchases—from gym memberships to annual park passes—with money your employer deposits in your account.

How it works

Your employer will deposit money in your LSA for you and your family to use to pay for eligible products and services that support your unique lifestyle and goals. You should note that the money you spend is considered taxable income, and you should see the benefit itemized on your payroll stub with applicable taxes withheld.

Paying for eligible products and services using funds from your LSA is easy using your Bank of America Health and Benefit Accounts Visa® debit card—just swipe and go! If you prefer to pay out of pocket and be reimbursed later, you can file a claim through the member website or the MyHealth app. (Learn more about filing a claim.)

Tip: You can check your account balance at any time with the MyHealth app, or by going to the member website.

Examples of expenses you may be able to pay for with an LSA

To help you understand the variety of products and services you may be able to pay for using your LSA, below is a list of examples. Be sure to check your company’s benefits website for specific expenses approved for your plan.

Physical

  • Athletic/exercise equipment
  • Gym, health clubs, spa and fitness studio memberships or classes
  • Personal trainer, fitness trackers
  • Entry fees (e.g., marathon) or passes (e.g., ski, golf)
  • Nutritional supplements

Financial

  • Home purchase expense assistance
  • Financial advisor services
  • Financial seminars
  • Identity theft services

Emotional/Other

  • Non-medical counseling services
  • Retreats (e.g., leadership, spiritual)
  • Camping supplies
  • Meditation or personal development classes (e.g., art, cooking)
  • Annual park pass

Example of how Lori uses her LSA

Photo of woman sitting next to trainer after workout

Lori’s employer deposits $200 into her LSA.

She goes to her company’s benefits website and sees that yoga is an eligible LSA expense. She goes to a yoga class and swipes her health and benefit debit card for $25.

Lori will see the $25 LSA benefit on her payroll stub as part of her earnings with applicable taxes withheld.

She keeps track of her LSA balance on her phone with her MyHealth app.

Take the next step to a healthier you

No matter where you are on your journey to improve your physical, emotional and financial wellness, an LSA can help you be your best self. Visit your company’s benefits website to learn about program eligibility, rules and procedures.