Trion’s FSA Debit Card is an innovative MasterCard™ that leverages proprietary technology for easier benefit access, increased employee satisfaction and reduced administrative hassles for tax-favored and defined contribution benefits. Prepaid benefits debit cards have become the delivery mechanism for spending accounts.
With the FSA debit card, employees have instant access to their account funds for eligible health care expenses - right at the point of service - at the pharmacy counter, dentist, optometrists or doctor’s office - wherever MasterCard™ debit cards are accepted.
It makes sharing the cost of benefits easier on everyone. So whether you offer an FSA, or HRA, or other fixed-dollar employee benefit account, with Trion’s FSA Card you can:
- Increase participation and contribution levels by anywhere from 30% to 200%.
- Offer an employee benefit while saving your company money - (higher participation equals greater FICA savings).
- Significantly reduce administrative hassles by eliminating most of the paperwork.
- Provide employee access to multiple accounts (e.g. FSAs, HRAs) with just one FSA debit card.
- Eliminate the need for employees to “pay twice” and wait for reimbursements.
- Use the ONLY proven substantiation method that allows only eligible transactions to be purchased with the FSA debit card.
COMPLIANCE ALERT:
The IRS/Treasury Department recently announced that supermarkets and other mass merchants will be required to implement Inventory Information Approval Systems (IIAS) by January 1, 2008, in order to allow purchases using debit card products. Likewise, pharmacies must also meet the same requirements by January 1, 2009. Coupled with data interfaces with your PBM and other healthcare carriers, this means that 90% to 95% of your employee’s eligible healthcare purchases will be approved without additional paperwork (notably receipt requests) when using the Trion’s FSA Cards.
Continue reading about Trion's FSA plans or if you would like more information or a proposal, please click on the link to Request a Proposal.