Capital Prepaid Services and 401Play Offer the BlazePays Vacation Savings Card
401Play, which offers a novel vacation savings account program, has chosen the BlazePays Visa Prepaid Card from Capital Prepaid Services as the program’s savings tool.
The card will be used by employers to help encourage and motivate employees to save for vacation via 401Play.
Similar to a retirement savings account, a 401Play VSA helps employees save for recreation through post-tax payroll deductions that are loaded directly onto a BlazePays card.
Employees have the option of setting aside a portion of their paycheck for their VSA, which they can access for any reason to pay for goods and services anywhere Visa is accepted.
Based on the research conducted, 59 percent of employees did not use all of their vacation last year, continuing an almost two-decade trend. One of the most sited reasons is affordability, since employees who don’t save and plan for vacation tend to take less time off even when they have earned the right to do so.
“When employees don’t take time off they become burned out, which can lead to health problems and poor quality of work and negative productivity,” said Greg Nickolson, president of 401Play.
“Americans aren’t good at saving money. And if employees don’t save for a vacation they are less likely to use their paid time off,” Nickolson noted. “With the BlazePays 401Play Vacation Saving Account, employers can encourage their employees to save for their vacation, using a simple and cost-effective tool.”
“The BlazePays card paired with 401Play’s VSA is the perfect tool to help people save for vacation,” said Mike Olafson, vice president of Capital Prepaid Services. “When employees take vacation they return rejuvenated and motivated, which improves productivity. We’re glad that the BlazePays card can be a part of that.”