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PowerFlex Benefits Debit Card
The PowerFlex Benefits Debit Card makes
accessing Reimbursement Account funds as simple as ABC.
For starters, the Debit Card can be used virtually
everywhere that MasterCard
and Visa are accepted. Plan participants have
immediate access to their FSA, HRA, HSA or Commuter
Reimbursement Account funds at the point of sale.
Multiple Reimbursement Account plans can be combined on
a single card providing the flexibility, convenience and
seamless compatibility that is crucial in working with
today's Consumer Driven Heath Plan designs.
Utilizing the PowerFlex Benefits Debit Card in
Reimbursement Account Plan designs offers significant
advantages for both plan participants and employers alike. The
PowerFlex Debit Card allows plan participants the
convenience of paying for eligible plan expenses using
their Reimbursement Account funds at the point of sale.
This immediate access to their benefit account
funds eliminates participant out-of-pocket expenses and
reimbursement wait times that are typical in a manual
claims environment. The Debit Card automatically deducts each
payment for eligible expenses directly from the
appropriate Reimbursement Account when the card is used
at an authorized merchant.
Multiple reimbursement account plans can be loaded onto
a single participant's card to provide the convenience
and flexibility needed to support custom benefit plan
have shown that offering debit cards is a proven way to
increase plan participation
rates in reimbursement accounts programs. And, higher
participation rates offer advantages for employers by
enabling them to maximize the tax savings on plan
contributions and increase the likelihood of passing
plan discrimination tests with greater ease.
The PowerFlex Debit Card system offers substantial
advantages for the TPA as well.
The PowerFlex Debit Card is powered
by Metavante Healthcare Payment Solutions (MBI), a
leader in payment card technology. PowerFlex and
MBI have developed an interface that facilitates the
automatic information flow between the two systems.
Debit card swipes
are approved using real-time account balance information,
and debit card purchases
will appear in PowerFlex. Manual claims entered into
PowerFlex and approved by MBI prior to processing the
reimbursement eliminate the potential for duplicate
claim processing or overspent accounts. Debit Card
auto-adjudication rules for co-pays and recurring
expenses eliminate the need for plan members to submit
after-purchase receipt documentation. And, in the
documentation is needed, receipt requests can be
automatically emailed to the plan participants without
you needing to lift a finger!
Debit Cards can virtually eliminate the
endless mounds of paperwork, time and overhead expenses
associated with the administration of Reimbursement
Account Plans in a manual claims environment.
Reducing the time spent
receiving, processing, and reimbursing claims allows you
to operate with lower overhead costs and achieve
higher profit margins. The PowerFlex Debit
Card system has no minimum card issuance requirements
and is completely scalable for both large and smaller
TPAs. Branding options are available to customize the
debit card with your own TPA name and logo.
And, competitive pricing ensures a quick
The bottom line - the
PowerFlex Benefits Debit Card System is a win-win for all!
Learn more about the advantages of debit cards for