VSA stands for Vacation Savings Account. Employers match a portion of their employee’s contribution to help encourage their employees to take vacations, which will reduce employee burnout and attract talent.
VSA Fund helps employers to attract talent, encourage wellness, and retain employees, while increasing their profits
We recommend your company's benefits administrator sign up, and a member of our team will reach out to schedule a demo to help answer any questions you may have.
Once invitations are sent, employees will have 21 days to set up their account. Employees may sign up at any point throughout the year. Once a new employee is added to payroll they will be invited once they meet the eligibility requirements (which are set by their employer).
Employers select to match 10% to 100% of employee contributions up to a maximum dollar amount per paycheck selected by employers (typically $15 to $40 per paycheck depending on payroll frequency).
Employers may set their own travel policies, typically, any vacation expense may count towards reimbursement. Employers may require a minimum number of days to be taken off in order for expenses to be eligible.
No. VSA Fund can be introduced as part of your broader benefits package during open enrollment or it can be an off-cycle benefit.
Employees may submit a withdrawal request through the VSA Fund app. VSA Fund will release funds within 3 business days directly to the employee's bank account or PayPal.
There are no startup costs, no implementation costs and no contract. Our monthly plan cost $3.00 per active employee, and our annual plan cost $2.50 per active employee. For companies with more than 100 employees, we offer discounts.
An active user is any current employee who has opted into the VSA Fund program.
For monthly contracts, VSA Fund will bill based on the total number of active employees during a given month. There are no partial refunds for mid-month terminations. For more pricing details, please check our pricing plans.
For annual contracts, VSA Fund will bill the annualized rate on a pre-paid basis for a specified number of seats. The initial bill we be based on the number of employees who opt in to the program. If an employee leaves your company, their seat remains active (and could be filled by a new hire at no additional cost). Customers cannot reduce the number of seats until the end of the annual contract.
VSA Fund contributions qualify as a taxable fringe benefit. Although there are not tax savings, the ROI of VSA Fund exceeds your cost! Check out our ROI calculator.
Employers may choose to match employee contributions on a pre-tax or post-tax basis. We highly recommend employers match on a post-tax basis due to it allowing employees to better plan their vacation budget, and not putting the additional tax expense on the employee. On a post-tax basis, employers will do a gross up calculation in order to calculate the additional tax expense to be covered in their employees' paychecks.
Security is one of our top priorities at VSA Fund. We use firewalls, encryption, and other technology to help keep your data secure. We put the same amount of care in protecting your data as we would with our own.
Yes. The bank account information you provide in order to process payroll is secured using a few anti-fraud measures. We adhere to industry standards and comply with applicable state and federal privacy and security laws.
We regularly review transactions for any suspicious activity and abide by industry regulations. If we believe we’ve found anything out of the ordinary, we’ll investigate and let you know as quickly as possible.