The all-in-one card solution for tax-free benefit accounts
Beniversal started as an idea that individuals should have universal access to their pre-tax benefits. Whether participants are trying to catch a train or pick up prescriptions, they should have a simple, no hassle experience. This concept becomes a reality through the Beniversal® Prepaid Mastercard®.
Participants can conveniently access funds for eligible expenses through a single card source linked to their pre-tax benefits, including: Medical Flexible Spending Account (FSA), Health Savings Account (HSA), Health Reimbursement Account (HRA) and/or Commuter Benefit Plan (CBP). The card utilizes merchant, terminal and card payment rules to create a simple, convenient payment experience.
With just a swipe of the Beniversal® Prepaid Mastercard® at a qualified merchant, necessary funds for the transaction are deducted from the applicable account. No waiting for reimbursement.
Using Beniversal for Health Care Services and Expenses
The Beniversal Card can be used at qualified merchants who accept Debit Mastercard. For a Medical FSA, HSA or HRA, these merchants include:
- Doctors, hospitals, medical labs
- Dentists, orthodontists
- Medical supply stores
- Vision centers
- IIAS merchants
- 90% merchants
What is an IIAS merchant?
An IIAS merchant has an Inventory Information Approval System (IIAS) that can automatically identify eligible medical expenses. Click here for a list of IIAS merchants. Or check out this Store Locator to search by zip code.
What is a 90% merchant?
A 90% merchant has registered with a national organization, certifying that 90% or more of its revenue is from the sale of eligible medical items. Click here for a list of 90% merchants. Or check out this Store Locator to search by zip code.
Do receipts need to be submitted when the Beniversal Card is used?
Participants should always keep receipts! The IRS requires administrators to ensure that 100% of FSA and HRA funds are used for eligible medical expenses. Benefit Resource has developed sophisticated technology and procedures to determine if a transaction is eligible. In the event that we cannot determine with certainty that the expense is eligible, we will directly contact the participant asking for further documentation. For HSA transactions, we will not request additional documentation, but participants should retain all receipts in case they are ever audited by the IRS.
Using Beniversal for Mass Transit and Parking Expenses
When participants utilize the multiple account technology of the Beniversal Card, they have instant access to mass transit and parking funds at approved merchants accepting Debit Mastercard. The Beniversal Card provides flexible payment options. Here are a few ways to leverage the card.
|Pay at point-of-service||The Beniversal Card can be used directly at approved merchants providing mass transit and parking services.|
|Pay based on a bill or invoice||If a participant receives a bill or invoice for parking services and the approved provider accepts Debit Mastercard, the participant can provide the Beniversal Card number to initiate payment.|
|Link the Beniversal Card to a reloadable mass transit card||If a participant utilizes a reloadable mass transit card, the Beniversal Card can be linked to the reloadable card as the funding source.|
The Benefits of a Mastercard Alliance – ACCESS, SPEED, CONFIDENCE
Our alliance with Mastercard International Incorporated assures broad acceptance among approved service providers and speeds the transfer of funds from cardholders to service providers. It gives participants easy card access to multiple tax-free accounts and adds yet another level of security—cardholders are protected from unauthorized purchases if their card is ever lost or stolen. Conditions and exceptions apply – see Cardholder Agreement.