Should You Offer a Home Office Reimbursement Plan?
A home office reimbursement account is an increasingly popular benefit for employers nationwide. With the pandemic causing a large shift in temporary and permanent remote work policies, home office reimbursement accounts became even more valuable for employees to relieve the new challenges of remote work.
Most states do not have their own requirements that businesses reimburse work-related and home office expenses. That means employers can set themselves apart by offering a home office reimbursement benefit plan, helping to attract and retain the best job candidates available. According to Owl Labs, “…74% [of employees] would be less likely to leave their employer” if given the option to work remotely. When remote work policies are combined with home office reimbursement funds, employers can set themselves up for success in the post-pandemic business landscape.
Where Is a Home Office Reimbursement Policy Required?
Some states have their own requirements that employers reimburse certain business-related expenses, including those related to employees working remotely. States with these requirements include California, the District of Columbia, Illinois, Iowa, Massachusetts, Montana, and New York. Refer to your own state’s laws regarding requirements for employee business-related expense reimbursement.
BASIC Offers a Home Office Account!
The BASIC Home Office Account is an easy way for employers to reimburse employees for work-related expenses needed to perform their jobs, such as a computer, printer, office supplies, internet connection, and many others. It is one of many Fringe Benefit Accounts offered on BASIC’s Consumer Driven Accounts (CDA) benefit platform, a modern and integrated benefit suite. BASIC CDA offers a great variety of benefits, from traditional accounts like FSA, HSA, and HRA, to less common benefits like Pet Wellness and Tuition Reimbursement Accounts. If your organization wants to attract and retain the highest quality job candidates, contact BASIC and improve your benefits package today!
