What Are Fringe Benefits?

Generally, an additional method of compensating an employee outside of their standard wage or salary is considered a fringe benefit. At BASIC, our Fringe Benefit Accounts are employee benefits that address specific employee needs outside the scope of traditional health benefits like group health insurance or healthcare accounts like FSAs. Our Fringe Accounts are unique and deliver value to employees on a more personal level. Let’s explore why any employer should consider adding fringe benefits to their compensation package.

Delivering Personalized Value

In the modern workforce, employees see health insurance as the bare minimum. They want more from their employer in terms of both nonmedical benefits and personalized benefits. That is where BASIC Fringe Benefit Accounts comes in. They were specifically created to give employers the tools needed to address their employees unique needs on a human level.

Some examples of popular Fringe Accounts include:

• Home Office Reimbursement
• Pet Wellness
• Employee Crisis Fund
• Fertility and Adoption Support
• Employee Achievement & Award Account

These are not cookie-cutter accounts. These benefits fill in the gaps in a compensation package to improve the lives of your employees in a meaningful way and position your organization as one who cares about your employees, and shows it.

Have an employee that is either on a remote or hybrid schedule? Offer a Home Office Reimbursement Account to assist with working-from-home costs. Want to show appreciation for your staff’s dedication? Implement an Employee Achievement & Award Account to deliver financial rewards when employees achieve certain milestones, or complete a project. It is all up to you – and your unique employees.