Being enrolled in the ICHP automatically enrolls participants in a Lifestyle Spending Account (LSA). The LSA program, powered by ThrivePass, will provide benefits to employees for completing wellbeing activities, but you have even more ways to use your funds.
How it works:
- LSA funds will be deposited the following month after completion of Preventive activities are entered into in Sonic Boom (i.e. contributions for activities reported in Sonic Boom for the month of January will be deposited to ThrivePass by the end of the month in February). Use this link for ThrivePass: https://www.thrivepass.com/.
- Funds deposited do not expire.
- Any unused funds will roll over year to year, not to exceed an overall maximum of $3,000.
- With ThrivePass, funds can be used for several wellbeing expenses.
The funds you receive to your LSA are what the IRS considers an Imputed Income. This means that while you are not taxed when the funds are deposited into your LSA account, you will be taxed when they are redeemed.
LSA Participation
If you are enrolled in the ICHP, you are eligible to participate in an LSA. If you are enrolled in the HDHP or not enrolled in a WGU medical plan, you are not eligible for an LSA. Finally, if you switch plans or waive coverage while you still have funds available in your LSA, those funds will be forfeited on the first of the month following the change in coverage.