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In recent years, lifestyle spending accounts (LSAs) have emerged as a solution for companies that want to invest in their employees’ personal and professional well-being with personalized benefits. We put together the 2024 LSA Spending Trends Report to answer questions like these and make it easier to design a successful LSA that meets your goals and designates your company as an employer of choice.

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In this report, we’ll dig into over a year’s worth of LSA spending data that reveals the top spending categories, top merchants, and how employees use their LSA when they have a choice. The data covers over 470,000 individual transactions from January 2023 through May 2024 from 27,575 employees, with an average of 17 transactions per employee during that time frame. It represents $41.5 million in spend and covers eight regions, six age groups, and nine industries which were analyzed separately. 

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The data illustrates:

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• Employee preferences and spending habits from hundreds of thousands of individual LSA transactions
• Differences in spending patterns across multiple regions, age groups, and industries
• The tremendous amount of ways companies can use an LSA to support their employees