Employee reimbursement is just a card swipe away! Connect your employees to their:
The mySourceCard® is a MasterCard® debit card that automatically reimburses your employees for eligible pre-tax expenses.
Your employees can use the card to pay for their health care, dependent care, and transit expenses at qualified locations that accept MasterCard, including doctor and dentist offices, pharmacies, vision care locations and merchants with the Inventory Information Approval System (IIAS) in place. Approved expenses are automatically deducted from their pre-tax accounts - without the hassle of claim forms or reimbursement checks.
For the most part, the mySourceCard works just like any other debit card, except for five important differences:
mySourceCard operates through programmed merchant codes. Each provider that accepts MasterCard is assigned a Merchant Category Code. There are over 500 such codes; however, only those codes related to eligible expenses under your specific benefit plan are programmed on the card. Additionally, card swipes for eligible purchases made at retail merchants with an Inventory Information Approval System, (IIAS) may be autosubstantiated per your TPA. If any transactions require documentation, the employee will be notified via e-mail.
Employers, you save money every time an employee swipes the card!
This MasterCard Debit Card increases plan participation, which...
Looking to increase participation in your plan? Look no further!
You already know your company saves FICA taxes on every dollar your employees put through your pre-tax benefit plans. The more money your employees contribute, the more your company saves - it's great for both employees and employers! But did you also know many employees choose not to participate in a pre-tax benefit plan because of the hassle involved with submitting claims and the wait for the reimbursement?
Increase your savings by maximizing plan participation!
With mySourceCard, employees pay the provider directly from their pre-tax accounts, virtually eliminating the need to complete claim forms and the wait for reimbursements. Tapping into the power of the MasterCard payment platform, employees simply present their mySourceCard at any qualifying merchant or provider location. With a swipe of the card, the provider is immediately paid for the services directly from the employees' benefit plan funds.
Save administrative costs by reducing:
mySourceCard gives the employee: