Dear Employer:
Welcome to the myResourceCard® program -- the MasterCard® Credit Card that "bridges bank credit with employee benefits". myResourceCard® embraces the natural boundaries that exist between your qualified reimbursement plans, such as an FSA or HRA, and the environment of consumer credit. It provides inter-connectivity of data between individual card transactions and employee reimbursement plans. It further provides inter-operability between the bank-issued credit and the plan administration system to create a solid consumer-centric solution.
Why myResourceCard®?
To give your employees relief from the "double payment" associated with a Flexible Spending Account. The first “payment” occurs through salary reduction from their paycheck. The second “payment” is at the point of sale. The employees then submit their receipt and wait for reimbursement via check or direct deposit. This “double” out-of-pocket can be a negative factor for some participants. Elimination of this hassle will help to increase participation in your Flexible Spending Accounts or similar reimbursement programs.
Why myResourceCard®?
To provide your employees with a credit card that is accepted at any of the millions of locations across the nation that accept MasterCard® Credit Cards. This program is not restricted to certain merchant categories and can therefore dramatically increase the utilization and confidence in the program.
Why myResourceCard®?
To provide a credit card to your employees that is owned by the employee -- not you, the employer. Employee ownership creates an atmosphere of responsibility, and personal responsibility is the foundation for successful consumer-centric healthcare. Employee ownership also removes the employer from the initial responsibility associated with every single charge. The card account, on which the MasterCard® Credit Card is issued, is the responsibility of the employee. 100% of the items charged on the card must be paid by the employee on the next monthly statement to avoid interest, penalties, or temporary suspension of the card. Any item charged on the card that is eligible for reimbursement from a qualified plan can be handled in that fashion, but the employee must pay any item that is not an eligible reimbursable expense. This separation of Plan and Card is what we refer to as “Natural Boundaries."
Your employees deserve the opportunity to eliminate their Out-of-Pocket expenses. This universally accepted card empowers them with the opportunity and responsibility to become a prudent consumer. With myResourceCard®, you are giving your employees the credit they deserve.
