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Accessibility to a Benefits Card Persuaded Decision to Opt for Tax-Favored Accounts

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Accessibility to a Benefits Card Persuaded Decision to Opt for Tax-Favored Accounts

Accessibility to a Benefits Card Persuaded Decision to Opt for Tax-Favored Accounts

Health care customers say that accessibility to benefits cards convinced them positively to take decision for signing up for Tax-Favored Accounts included of Health Reimbursement Arrangements (HRAs), Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs).

According to the report of The Evolution Benefits Consumer Experience Survey, benefits cards not only influenced the customers to sign up for such accounts but also made the accounts much effective and easily usable.

The survey was conducted with an aim to estimate the success rate of three curriculum components; usage of benefit cards, cardholders' communication and the usefulness of obtaining a benefit card along with a healthcare account. Evolution Benefits designed and accomplished the survey on MasterCard card holders at 10 different companies in different trades.

The major finding of the survey was that almost two-thirds of about 900 surveyed individuals said that accessibility to benefits cards convinced them to sign up for the benefits; whereas about three-quarters of the total respondents reported that obtaining a card helped them to use account fund even with more ease. Most of the cardholders said that they have faced very few - if indeed any- troubles and they know where the card should be used, actually.

Card communication ratings was however good to excellent. 92 percent of the total surveyed people reported that they were familiar with how and where to utilize the cards. They also reported that they knew what items are qualified for pre-tax treatment rooted in IRS guidelines. Moreover, approximately 87% of the surveyed cardholders got it beneficial to obtain point of service substantiation.

According to Kevin Blank, the Executive Vice President of Evolution Benefits said that The Evolution Benefits Survey has shown, evidently; the additional values coupled with obtaining a card connected to a healthcare account; as most of the customers reacting optimistically to their experience.

Bland added that his company knows that the scopes of educating the consumers about the advantages and usage of payment cards are still there. And, they will carry on finding other options to do that.

An overview on Evolution Benefits

Evolution Benefits, Inc is one of the leading electronic benefit payment solutions providers serving employee benefit market. The prepaid benefits cards offered by the merchant empowers the agenda of over 225 administrative services companies and covers over 14,000 companies. For in-depth information, please log on to www.EvolutionBenefits.

Contacts

Evolution Benefits
Anne Carpenter,
pr@evolutionbenefits.com
Telephone no: 860-678-5561
Or
Weiss PR Associates
Jessica Trzyna,
jtrzyna@weissprassociates.com
Telephone no: 443-621-7690

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