In the midst of the Great Resignation, with employees leaving their jobs in mass numbers, it’s important to offer flexible benefits to keep your employees and attract new talent to your business. One of the best ways to do this is to offer stipends, also known as fringe benefits.

Stipends are a fixed sum of money offered to employees by their employer to help cover Health or living expenses. This is often done through reimbursements.

Taxable health and Wellness stipends are two of the most popular benefits available. Despite both having to do with your employees’ wellbeing, they cover very different expenses.

In this article, we’ll explore the differences between health and wellness stipends, and describe what expenses are reimbursable for each:

• What is a health stipend?
• What are the benefits of a health stipend?
• What’s reimbursable under a health stipend?
• What is a wellness stipend?
• Why offer a wellness stipend to employees?
• What’s reimbursable under a wellness stipend?