Wellbeing benefit for employers

According to the guidelines of the Finnish Tax Administration, a wellbeing benefit is a tax free benefit that must be offered collectively and within the limits To qualify as a tax-free benefit, the employer must define the service providers where the restricted payment instrument (wellbeing benefit payment methods) can be used. This is arranged through an agreement between the employer providing the benefit and the wellbeing service provider. Edenred simplifies the process with an online tool that makes creating and managing these agreements quick and easy. 

The wellbeing benefit is loaded directly by the employer for the beneficiaries' use, either all at once or in multiple installments. The benefit can also be offered with an employee co-payment option. Kela reimbursements are processed automatically at the point of payment which reduces administrative work.

Edenred Health is also included in the MyChoice feature, which gives employees more freedom of choice. With MyChoice, employees can decide whether to use their balance for healthcare services or allocate it to other benefits offered by their employer. A long validity period of up to two years also reduces the risk of unused funds and provides greater flexibility for employees.