The Flex Benefits Card
The Flex Benefits Card program leverages the simplicity of debit card technology and the power of a global financial network to eliminate the hassle of claim forms and the double out of pocket payments associated with pre-tax accounts. The result is an easy-to-use debit card system that enables you to offer your employees an attractive new dimension to their benefits package while also providing you with significant bottom-line benefits. Flexible Spending Accounts offer attractive savings to both employers and employees. Because of its ease of use, the card encourages greater participation and contributions by employees. Employers have experienced a growth of 25% in their Flexible Spending enrollments and an increase of 28% in the average per-employee contributions.
How The MBI Benefits Card Works
The Flex Benefit card system automates the process of paying for eligible pre-tax expenses. It enables employees to use the card only at eligible Medical and Dependent Care locations wherever MasterCard is accepted – from physician and dental offices to pharmacies and vision service locations. Approved expenses are automatically deducted from their pre-tax account. The card can be used for Medical Reimbursement, Dependent Care, Transit, Tuition Reimbursement plans and HRA Plans.
With the MBI Benefits Card, Everyone Benefits
Employers
- Drives FICA tax savings by increasing Flex account participation and contributions
- On average, employers realize a 60% increase in overall dollars contributed to their Flexible Spending accounts
- Adds value to employee benefits at no additional net cost
- Means of offsetting rising healthcare costs
- Reduces paperwork and administrative burdens
- Improves employee recruitment capabilities
Employees
- Provides instant access to Flex account funds
- No need to use out of pocket dollars
- Virtually eliminates claim forms
- No more waiting for reimbursement checks
- Medical Reimbursement, Dependent Care, Transit, and Tuition Plans can all be handled on one card
- Employees can check their available account balance 24 hours a day via secure Internet access
- The card is be accepted nationwide, anywhere MasterCard is accepted provided it is an approved merchant.
Advanced flex.....The convenience you are looking for.
|
