Flex Debit Cards
What is the Flex Debit Card: Flex Debit Cards are the hottest rage in our Flex line-up. The card can be used nationwide wherever MasterCard is accepted to pay for qualifying medical and dependent care services. It looks like a regular charge card, but this card is used to take funds out of the Section 125 Flex account set up by your company under IRS guidelines.
How does the Card work? Simply present the card at the time of purchase of qualified medical and dependent care services, and the payment will be deducted directly from your flex account:
·No more waiting for your reimbursement check to arrive.
·No double-out-of-pocket payments.
·No more forgotten purchases.
·Very little paperwork. Just fax the form with a proper receipt.
·Check your balances on the web 24 hours per day.
Flex Debit Cards are
Fast, Efficient, Flexible, and Simple!
Participants can Check Account Balances: Checking Flex Account Balances is easy. Participants can check Flex Balances at any time 24 hours per day to review their account activity and balance.
What are the Benefits of the Card? Flex Debit Cards eliminate the need for your employees to "pay twice." It reduces the need to submit claim forms for reimbursement and helps diminish the fear of forfeiture. The card helps increase employee contribution amounts and also increases participation rates.
Will employee participation in our Flex plan increase? Participation in Flex plans is generally low because employees are reluctant to "pay twice" and most say that it is not worth the hassle of sending claim forms. Nationally, participation in Flexible Spending Accounts averages 20%. National data shows that with Flex Debit Cards, participation rates increase by 25% and Flex contributions increase by 28%. This means greater satisfaction and tax savings for both the employer and the employee.
Do I have to wait until the end of the plan year? Card implementation can be done anytime during the plan year in as little as 30 days through Benefit Planning Consultants.
For more Information: Contact us and will be glad to provide you with more information and answer any questions you may have.
Flex Debit Cards
Are The Smart Choice!