CHECK OUT THE ADVANTAGES OF CDS’s BENEFITS DEBIT CARDS
Convenience
- Employees can swipe the card at the point of service instead of paying and waiting to be reimbursed.
Save time and effort
- The benefits debit cards reduce paper claims, questions and mailings – which saves you time and effort.
Bottom line savings
- Each pre-tax dollar that your employees designate for their spending accounts translates to a 7.65% savings in the employers FICA contributions.
How does it work?
- Employees will simply swipe their benefits debit card at the point of service (ie. clinic, dental office, pharmacy, daycare) and the funds will be deducted from the applicable account.
- They will then submit an itemized statement or Explanation of Benefits (EOB) for the services to CDS to substantiate the claim.
- The cards can be set up so that substantiation is not required for your group health coverage co-pay amounts or reoccurring services such as monthly orthodontic or chiropractic fees.
- Qualified items purchased at stores with IIAS credit card technology; such as Walgreen’s, Target pharmacy, and Wal-Mart, etc. do not require any substantiation.
Debit Card FAQs
Let us exceed your expectations. Contact Beth Wepplo at (888) 388-1040 to learn more.
