Like many young millennials, I am a bit of a maximizer. I look for the shortest queue at the supermarket. I try to fit in just one more errand en route to a brunch date, so I don’t have to walk back across town later (I’m often just a smidgen late). And I try to max out my fitness benefit that my work provides me.
Rather than simply paying for your gym membership, like many start-ups these days, my corporate office offers a more flexible 75% refund of up to $500 total in fitness spending per year. Rather than throw it all at a ClassPass that I would underutilize during my erratic travel schedule (that wouldn’t be very good maximizing…), I decide to spend it piecemeal. $150 on a new iWatch (it hurt a little when they came out with version 2.0 a few months later…). $50 on some yoga equipment. And then, I was left to wonder with my remaining $300, what expenses qualify?
I remembered some completely miscellaneous items on a list from when I first joined the company, and the dire complaints of a colleague who couldn’t get his form roller reimbursed (“How is this not fitness equipment?!” he balked). So I knew they were pretty selective about what got through. I decided it was time to do a bit of research.
Unfortunately my intranet pointed me to the WageWorks helpline. I call, and proceed to navigate through the touch-tone. I finally reach a human that asks me the same questions as the automated recording. “What are the last four of your social?” I give them to her. “But that’s not what I see in the system!” she practically gasps. “What does that have to do with my question?” I ask. Indeed, clearly whoever writes these call scripts is not a maximizer themselves. If this were a consultant’s dreamland, I could magically inspire Jedi-like focus within her on how to minimize the time of both the callee and caller are on the phone. I’d waive my hand like Obi-Wan, and say in a soothing voice, “You want to cut out the unhelpful form-filling and answer questions as quickly as possible.” “Yes,” Susan would say, “How can I help?”
Finally, after 20 minutes of help line circles, I learn that nothing intuitive seems to count as exercise. “Does Citi Bike [bike sharing] qualify?” “Yes.” Most places would count that as a commuter benefit, but I was happy to take it. “What about roller blades?” “No, that does not qualify”.
She then points out that all of this stuff is on their website. “Oh!” I say, “I’ll have a look for that.” Of course it wasn’t on the public WageWorks website. It was squirreled away on a private login site hidden within the intranet.
In support of all maximizers out there, I have provided the list of WageWorks qualifying expenses below. This list can vary by employer, but this is a good starting place. Nutritional counseling is in. Swim classes are out. Logic be damned.
| Description | Covered | Benefit | Max Benefit p.a. |
|---|---|---|---|
| Activity Tracker or Smartwatch (once every 3 years) | Yes | 75% | $150 |
| Any expenses not explicitly listed | No | ||
| Bike Sharing Memberships (Monthly or Annually only) | Yes | 75% | $500 |
| Dance Class | No | ||
| DVD/Exercise videos | Yes | 75% | $500 |
| Exercise Class | Yes | 75% | $500 |
| Fitness Center, Club or Studio Membership | Yes | 75% | $500 |
| Fitness Counseling | Yes | 75% | $500 |
| Fitness games for game consoles | No | ||
| Form Rollers | No | ||
| Golf Lessons (including those from a country club) | No | ||
| Golf or Country Club Membership | No | ||
| Gym Membership | Yes | 75% | $500 |
| Health Center or Club Membership | Yes | 75% | $500 |
| Health Spa Membership | No | ||
| Home Fitness Equipment | Yes | 75% | $500 |
| Initiation Fee (for covered services) | Yes | 75% | $500 |
| Inversion Table | No | ||
| IWatch with tracking capability | Yes | 75% | $150 |
| Jogging Stroller | No | ||
| Karate | Yes | 75% | $500 |
| Kick Boxing | Yes | 75% | $500 |
| Locker Service | No | ||
| Martial Arts | Yes | 75% | $500 |
| Massage Services | No | ||
| Medical Expenses / Medical Copays | No | ||
| Monthly billing fee (for covered services) | Yes | 75% | $500 |
| Mountain/Road Bikes (One every five years) | Yes | 75% | $500 |
| Nutrisystem | No | ||
| Nutritional Counseling | Yes | 75% | $500 |
| Online Classes | Yes | 75% | $500 |
| Personal Trainer | Yes | 75% | $500 |
| Pilates | Yes | 75% | $500 |
| Race Fees | Yes | 75% | $500 |
| Registration Fee | Yes | 75% | $500 |
| Rock Climbing | Yes | 75% | $500 |
| Shoes and Apparel | No | ||
| Smart Watch with tracking capability | Yes | 75% | $150 |
| Smoking Cessation Products | No | ||
| Spa Membership | No | ||
| Spin Classes | Yes | 75% | $500 |
| Swim Club Membership | No | ||
| Swimming Lessons | No | ||
| Tae Kwan Do | Yes | 75% | $500 |
| Tai Chi | Yes | 75% | $500 |
| Tennis Club Membership | No | ||
| Tennis Lessons (including those from a Country Club) | No | ||
| Towel Service | No | ||
| Weight Watchers Meals | No | ||
| Weight Watchers Registration Fee | Yes | 75% | $500 |
| Wireless Activity Tracker (once every three years) | Yes | 75% | $150 |
| Yoga | Yes | 75% | $500 |
| Yoga/Workout Mats | Yes | 75% | $500 |
MBA in the City 