Curious if any HR teams here have looked at combining these strategies:

Using Section 125 and payroll efficiencies to reduce employer costs, then redirecting some of those savings into an employee hardship assistance/loan program.

The concept is that instead of adding another benefit expense, you’re finding savings elsewhere and using them to fund a program employees can access when unexpected expenses come up — without a traditional credit pull.

Depending on how it’s structured, there can also be tax advantages for the employer, and repayments can help replenish the fund so it continues helping employees over time.

Has anyone implemented something similar or looked into it? We've been doing it with some of the companies we've been working with.