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The
benefits debit card drives FICA tax savings by increasing
FSA participation and contributions
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On
average, employers realize a 60% increase in overall dollars
contributed to their FSA plans (new contributions plus the increase in
existing contributions)
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Can be a single point of access for multiple
employee benefits such as FSA, DCA, HRA, Parking/Transit and HSAs
(coming soon!)
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Adds
value to employee benefits at no additional net cost
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Here’s how it works
with an FSA plan:
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Employee
enrolls in the FSA and receives a benefits debit card
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Employee
incurs eligible expense and pays qualified provider with the benefits
debit card
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The
automated system:
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Determines
if provider is, in fact, "qualified"
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Checks
for adequate funds in the plan master account
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AdminPro
receives the claim transaction electronically
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Works
just like a debit card, only the "bank account" consists of
the funds employees have set aside in their health care or dependent
care flexible spending account
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