Paper or Plastic?
Electronic payment cards are becoming more prevalent and vital to successful CDHP administration.
Introducing an electronic payment card into a reimbursement account does not automatically make it a CDHP, but providing an electronic payment card that INTEGRATES with the various accounts will go a long way to delivering the promises of CDHP. An electronic payment card doesn't create consumerism, but it does create options.
The Power of a Choice
Now imagine the power of offering a choice of either a debit OR a credit card that integrates with a variety of benefit plans ... HSAs, FSAs, HRAs, Transit/Parking, and Dependent Care! Each platform has particular strengths that can enhance a CDHP according to the unique needs of the employer.
For example, the debit card is traditionally the platform of choice for FSAs because the card is tied to Merchant Category Codes (MCC), which restrict the locations that the card can be used and facilitate the auto-adjudication of eligible claims. However, because HSA account holders are entitled to access their funds for both medical and non-medical expenses, the non-MCC credit card may be a better choice. In addition, the credit platform allows the HSA account holder to defer the use of HSA funds in order to build up the HSA balance. It is also a source of payment to a provider during the early years of the HSA when account balances may be low.
Credit or Debit
Now You Have A Choice!
The DPI-Suite offers both a debit and a credit card platform that were created in-house, so you are guaranteed a seamless single-source solution. The key is to have Card Services, Custodial Account Management, and Bank Services for the cards - as well as Electronic Fund Transfers - all under one roof and developed by the same company. No other system can offer you this level of integration.
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