MasterCard, Evolution Health Launch Benny Card
The flexible acount permits an employee to use his payroll account to pay out-of-pocket healthcare costs on a pretax basis. The Benny Card, marketed through Evolution Health's Evolution Benefits division, can be used with any healthcare provider that accepts MasterCard.
Most flexible spending account plans require employees to pay their uncovered expenses upfront and to save all their receipts so they can be reimbursed for the charges. With the Benny Card, none of that is necessary.
"The Benny Card changes all that, because all it takes is a card swipe at the pharmacy or provider office, and the co-pay or other qualified expense is automatically deducted from the FSA account in real time," said Andrew Dahl, president of Evolution Benefits.
Evolution Health said it plans to adapt the Benny Card to other employee benefit systems.