|
FAQs »
Using the Card »
Troubleshooting »
Allows for immediate disbursement of benefits. Flex Benefit card participants simply swipe their card at a merchant site providing an eligible service for an FSA participant (i.e.the pharmacy to pay for their prescription) and the transaction is complete. The employee may be asked to provide substantiation, or back up, for the claims transaction, however the Flex Benefit card transaction will save them from the inconvenience of the wait for reimbursement from their account as they incur expenses.
Market studies have shown that employees are 8 times more likely to use public transportation if commuter assistance is available to them. Offering a Flex Benefit card option for a transit program, in addition to cash reimbursement (but replacing a voucher plan), increases plan participation by 20-40% with an average contribution increase of 10-50%. This translates into significant tax savings for both employees and their employer.
Hassle-free account maintenance: EBS' outstanding team of customer service representatives are available toll-free during business hours as well as via email to answer card questions. We will resolve any account balance discrepancies including unauthorized settled transactions, inappropriate fees or activities, lost/stolen card issues, etc., for you.
Account balance and account status information: All card transactions and status changes effecting card balance and activities are updated each business day (or on the first business day after a holiday or weekend) and are available to participants from the Member Center. Each business day, EBS downloads card transaction records to update our own internal records. Other transactions, such as paper claims paid, status changes including terminations and new hires, are also updated each business day so that the Flex Benefit card and EBS systems are in synch.
Multi-account capability: The Flex Benefit card can be used for FSA accounts, HRA accounts and transit and parking accounts administered by EBS. EBS will be adding HSA capabilities as those services are introduced.
The MyBenny card solution EBS has chosen has the highest level of electronic expense substantiation in the industry, thereby reducing the need for receipts more significantly than any Flex Benefit card used today for FSAs.
|
