June 5, 2024

Announcing JOON’s Latest Feature: Ongoing Reimbursement of Large Purchases

At JOON, we’re always listening to your feedback and looking for ways to improve our services. We are thrilled to announce a new feature that many of you have been eagerly awaiting and now enjoying: Ongoing Reimbursement of Large Purchases.

How It Works

Our new feature allows employees to request reimbursements for large purchases over multiple months.

Important Notes

  • Requesting ongoing reimbursements for large purchases are subject to your employer’s criteria, and there may be minimum purchase amounts for eligibility. Purchase must be a minimum of 1.5x the monthly/quarterly allowance unless noted otherwise in your category guide.
  • You can only have one purchase with ongoing reimbursements at a time.
  • Reimbursements for ongoing purchases always take priority amongst eligible purchases. The maximum allowance will always be applied to the balance of the ongoing reimbursement until it is fully reimbursed.
  • Ongoing reimbursements continue so long as (i) you remain an eligible benefits recipient for the employer, and (ii) the employer maintains their benefits program with JOON.

Here’s how you can take advantage of it:

  • Once you have an eligible purchase that meets the threshold you can simply report the purchase by clicking on the “Actions” wheel and clicking “Request Ongoing Reimbursement” 

request ongoing reimbursements

  • You can also request it when manually reporting purchases.

request ongoing reimbursements modal

  • You can see ongoing reimbursements that you’re actively receiving on your “All Purchases” page.ongoing reimbursements-2

For more detailed instructions, check out our Help Center.

Benefits for Employees

Manage Large Expenses: If you make a large purchase, like buying equipment for a home gym, you no longer have to worry about exceeding your monthly allowance. Instead of receiving a fraction of the reimbursement in the month it was purchased, the total cost will be spread over several months. This means you can get fully reimbursed for your purchase without having to make additional eligible purchases in future months.

Financial Planning: Knowing that you’ll be covered for a certain amount of months provides peace of mind. You can plan your finances better, knowing exactly how much you’ll be reimbursed each month.

Benefits for Employers

Controlled Reimbursements: While you are reimbursing a large purchase, you’re only paying out a portion of that cost each month. This reduces the financial risk if an employee leaves the company soon after making a big purchase. For example, if an employee buys a $1,000 treadmill and has a $50/month allowance, you’ll only pay $50 each month as long as the employee is with the company. If they leave, you’re not out the full $1,000.

Employee Satisfaction: Offering this feature shows that you care about your employees’ wellbeing and financial stability. It’s a perk that can help attract and retain top talent, making your company a more desirable place to work.

Why This Feature Matters

Ongoing Reimbursement of Large Purchases has been one of the most requested features at JOON. It addresses a real need for both employees and employers. For employees, it means better financial management and full reimbursement for necessary purchases. For employers, it offers a way to manage expenses and reduce financial risk.

We’re proud to introduce this feature and believe it will quickly become one of the most beloved aspects of our platform. Thank you for your continuous feedback and support. We look forward to bringing you more improvements in the future.

If you have any questions or need further assistance, please visit our Help Center or contact our support team.

Stay tuned for more updates, and thank you for being a part of the JOON community!