The company made two separate agreements with PayFlex and WageWorks – which will manage the payments and claims process – to offer the American Express Benefits Plus Card to corporations and their employees, according to a press release.
With the card, employees contribute pre-tax dollars through payroll deductions to their FSA account to fund qualified medical expenses, such as medical office visits, dental care, vision care, prescription drugs, deductibles and co-insurance payments. The employee than presents the card at an American Express healthcare merchant location and the purchase amount is deducted directly from the FSA account.
“Consumers value flexibility and control when it comes to healthcare payments, and our new Benefits Plus Card gives them both with direct access to their funds and fewer required receipts,” said David Bonalle, vice president of Advanced Payments at American Express, in a news release. “Benefits Plus is another way we can help enhance consumers’ choice and convenience by simplifying the administration of their healthcare reimbursement programs.”
More information about American Express healthcare payment offerings can be found here .