Case Study: New Balance scales a flexible lifestyle spending benefit with Forma

New Balance boosts LSA adoption to 76% with Forma

New Balance, a major athletic footwear and apparel company, faced a challenge in manually administering its Movement Reimbursement Program for over 3,800 employees. The process was clunky and time-consuming for their small benefits team, making the program unsustainable to manage. They partnered with Forma to implement a Lifestyle Spending Account (LSA) solution to overcome these administrative hurdles.

Forma provided a flexible LSA platform that transformed the program into a comprehensive Lifestyle Reimbursement Program covering numerous categories like fitness, family support, and remote work. The solution was easy to manage and scale, leading to impressive results: 76% of eligible employees actively use the benefit, and the program boasts an 85% claims approval rate. Forma's partnership allowed New Balance to effortlessly expand its offerings, creating a highly impactful and popular benefit for its associates.

New Balance