Global Spending Account overview
The Global Spending Account is designed to enhance international employees’ overall well-being by covering a variety of wellness-related expenses that go beyond traditional healthcare. Level works with teams in over 75+ countries and can support 60 types of currencies. Tailored for global workforces, Global Spending Accounts support work-life balance through a reimbursement-only structure. This guide helps you understand Global Spending Account features so you can assist employees with their questions and benefit utilization.
What’s covered ?
Each company’s Global Spending Account policy defines eligible expenses. However, typical categories include:
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Fitness and health: Gym memberships, fitness classes, exercise equipment, and wellness apps.
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Mental well-being: Therapy, meditation, and self-care products.
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Personal development: Courses, educational books, and financial wellness services.
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Family and leisure: Childcare, travel, and cultural experiences.
Level provides an intake form during onboarding for your selected plans, which include an exhaustive list of all eligible coverage categories for the selected plan. Please feel free to reach out to your account manager or success@level.com to request our intake form for your review and plan configuration.
Employee eligibility
Employee eligibility can be configured based on your company’s policy and the country in which they reside. Level recommends reaching out to your account manager to confirm if the employee’s country of residence is supported. Other common factors include:
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Employment status: Employers can indicate whether the benefit is eligible for full-time only, or also inclusive of part-time or contract employees.
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Waiting periods: Employers can set a waiting period for new hires before they are eligible for the benefit.
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Enrollment periods: Employers can tie eligibility to specific enrollment periods (e.g. open enrollment).
Auto-enrollment
Automatically enrolls members based on plan enrollment criteria (e.g. employee type, status, location) without a required election by the employee.
This enrollment type is most popular for Global Spending Accounts.
Claims and reimbursement process
The GSA operates on a reimbursement-only basis. Employees can file claims by uploading their receipts directly through the Level app. Once approved, reimbursements are typically processed during your company’s regular payroll cycle. To process eligible spend throughout a month, Level offers a Reimbursement Pay File report which may be found in the Reports tab of the Employer Dashboard.
Tax information
The tax treatment of Global Spending Account reimbursements varies by country and local regulations:
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Country-specific guidelines: Tax obligations may differ based on location, so we recommend that employees consult a local tax advisor or refer to regional tax guidelines for specifics on Global Spending Account reimbursements.
Termination
When an employee leaves the company, their remaining GSA balance will be handled according to your company’s termination policy. The specific treatment may vary, so it’s essential to confirm the company’s stance and communicate it to departing employees if needed. All terminated employees will continue to have access to their Level account only to review past transactions and expenses.