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· Pressroom ·
Recent News
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Recent News
When working with media representatives, we take the same approach we do with clients - courteous and responsive. We understand that journalist's work on strict deadlines, so having this approach is important.
We are proud of the relationships we have built with the media as you will see from the following appearances.
All In the News Files are in Adobe Acrobat PDF format. Download Acrobat Reader by clicking the Get Adobe Reader below.
| September 18, 2007 |
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DataPath Successfully Completes SAS 70 Type II Audit |
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Document available for download:
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| February 15, 2006 |
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Walgreens and DataPath Team Up For AutoSubstantiation |
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Document available for download:
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| August 24, 2005 |
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DataPath President Appears in Journal of Payment Systems Law |
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An article by John J. Robbins, Sr., President and CEO of DataPath, Inc., has been published in the prestigious Journal of Payment Systems Law (June/July 2005). The article, titled "Is a Credit Card the Answer to HSA Reimbursement Questions?", explores in depth the issues involved in offering electronic payment cards to employees as a way to facilitate payment of health care expenses. |
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Document available for download:
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The article is reprinted with permission from the June/July 2005 issue of the Journal of Payment Systems Law. |
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| February 08, 2005 |
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DataPath and drugstore.com, inc. Work To Improve Flexible Spending Benefits |
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Document available for download:
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| May 12, 2004 |
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Cincinnati Benefits Administrator To Offer Consumer Credit Card: |
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Cincinnati Benefits Administrator To Offer Consumer Credit Card: myResourceCard® Offers Connectivity with Health Benefits
Little Rock, AR (May 12, 2004) – myResourceCard®, a MasterCard® consumer credit card, has
officially entered the marketplace with the implementation of a local employee benefits Third
Party Administrator (TPA). |
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Document available for download:
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Cincinnati Benefits Administrator To Offer Consumer Credit Card: myResourceCard® Offers Connectivity with Health Benefits
Little Rock, AR (May 12, 2004) – myResourceCard®, a MasterCard® consumer credit card, has officially entered the marketplace with the implementation of a local employee benefits Third Party Administrator (TPA).
Pension Corporation of America, a Cincinnati, OH, administrator of employee and health benefit plans, has decided to offer myResourceCard® as an offered product to clients of their TPA services. myResourceCard® empowers the employees of companies offering Flexible Spending Accounts (FSA), Health Reimbursement Accounts (HRA), the newly enacted Health Savings Accounts (HSA) and other employer sponsored reimbursement plans.
myResourceCard® is a Consumer Credit Card in response to IRS Revenue Ruling 2003-43. This product will help Employees avoid the hassle of out-of-pocket health care expenses through the convenience of a credit card. Employers have a reduced level of risk with the Credit Card Approach compared to the debit card or corporate credit card approach. Employee credit limits can be set independent of the employee's election within a reimbursement plan such as a 125, 132 or 105. Administrators have added efficiency due to the integration between the Card Management System and the Plan Administration System when using the solution provided by DataPath, Inc., the developers of the myResourceCard® system. Administrators have control over the plan and ensure that 100% of the reimbursements are a result of a properly adjudicated claim as well as completely eliminating the hassle of "Pay-and-Chase".
"The consumer credit card provides our participants a more efficient way to access their flexible spending dollars," said Jim Eckerle, vice president of Pension Corporation of America. "The ability to use flex dollars at the point of sale heightens the appeal of these plans, and boosts overall participation. More dollars in the plan means more tax savings for both the employee and the employer."
For more information on myResourceCard® and it’s application to businesses throughout Ohio, contact Jim Eckerle at Pension Corporation of America at 513-719-4164, or call Benjamin Lewis of Perception, Inc. at 301-963-7555.
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| April 23, 2004 |
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Minnetonka Insurance Agency To Offer Consumer Credit Card: |
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Minnetonka Insurance Agency To Offer Consumer Credit Card:
myResourceCard® Offers Connectivity with Health Benefits.
myResourceCard®, a MasterCard® consumer credit card, has officially entered the marketplace. |
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Document available for download:
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Minnetonka Insurance Agency To Offer Consumer Credit Card:
myResourceCard® Offers Connectivity with Health Benefits
Little Rock, AR (April 23, 2004) – myResourceCard®, a MasterCard® consumer credit card, has officially entered the marketplace with the implementation of a local employee benefits Third Party Administrator (TPA) of Cafeteria Plans and COBRA services.
CFG Insurance Services, a Minnetonka, MN, has decided to offer myResourceCard® as an offered product to clients of their TPA services. myResourceCard® empowers the employees of companies offering Flexible Spending Accounts (FSA), Health Reimbursement Accounts (HRA), the newly enacted Health Savings Accounts (HSA) and other employer sponsored reimbursement plans.
myResourceCard® is a Consumer Credit Card in response to IRS Revenue Ruling 2003-43. This product will help Employees avoid the hassle of out-of-pocket health care expenses through the convenience of a credit card. Employers have a reduced level of risk with the Credit Card Approach compared to the debit card or corporate credit card approach. Employee credit limits can be set independent of the employee's election within a reimbursement plan such as a 125, 132 or 105. Administrators have added efficiency due to the integration between the Card Management System and the Plan Administration System when using the solution provided by DataPath, Inc., the developers of the myResourceCard® system. Administrators have control over the plan and ensure that 100% of the reimbursements are a result of a properly adjudicated claim as well as completely eliminating the hassle of "Pay-and-Chase".
"Eliminating ‘Pay-and-Chase’ is a critical component to any TPA who strives for administration efficiency," said Mickey Webb, vice president of employee benefits at CFG Insurance Services. "We evaluated several debit card products before settling on the consumer credit card solution through myResourceCard®. We strive to keep our clients’ plans in complete compliance, which is accomplished through myResourceCard®."
For more information on myResourceCard® and it’s application to businesses throughout Minnesota, contact Mickey Webb at CFG Insurance Services at 952-945-0200, or call Benjamin Lewis of Perception, Inc. at 301-963-7555.
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| April 22, 2004 |
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Northampton Health Plan Administrator To Offer Consumer Credit Card: |
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Little Rock, AR (April 22, 2004) – myResourceCard®, a MasterCard® consumer credit card, has officially entered the marketplace with the implementation of a local employee benefits Third Party Administrator (TPA). |
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Document available for download:
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Northampton Health Plan Administrator To Offer Consumer Credit Card: myResourceCard® Offers Connectivity with Health Benefits
Little Rock, AR (April 22, 2004) – myResourceCard®, a MasterCard® consumer credit card, has officially entered the marketplace with the implementation of a local employee benefits Third Party Administrator (TPA).
American Benefits Group, a Northampton, MA, administrator of employee and health benefit plans, has decided to offer myResourceCard® as an offered product to clients of their TPA services. myResourceCard® empowers the employees of companies offering Flexible Spending Accounts (FSA), Health Reimbursement Accounts (HRA), the newly enacted Health Savings Accounts (HSA) and other employer sponsored reimbursement plans.
myResourceCard® is a Consumer Credit Card in response to IRS Revenue Ruling 2003-43. This product will help Employees avoid the hassle of out-of-pocket health care expenses through the convenience of a credit card. Employers have a reduced level of risk with the Credit Card Approach compared to the debit card or corporate credit card approach. Employee credit limits can be set independent of the employee's election within a reimbursement plan such as a 125, 132 or 105. Administrators have added efficiency due to the integration between the Card Management System and the Plan Administration System when using the solution provided by DataPath, Inc., the developers of the myResourceCard® system. Administrators have control over the plan and ensure that 100% of the reimbursements are a result of a properly adjudicated claim as well as completely eliminating the hassle of "Pay-and-Chase".
"myResourceCard® represents a quantum leap in the integration of the FSA with the employer health plan. The card eliminates the out of pocket cash flow issue for FSA participants, and the electronic payment technology allows us to automate reimbursement of the health or dental plan co-pays and deductibles," said Robert Cummings, managing partner of American Benefits Group. "We are virtually eliminating paper claims processing and have already experienced a dramatic increase in participation among FSA participants using the card. We recently implemented an FSA for Fiat Group North America. With employees from New Jersey to California, the electronic payment card and the FSA employer web site are seen as the key to the success of the program."
For more information on myResourceCard® and it’s application to businesses throughout Massachusetts, contact Robert Cummings at American Benefit Group at 413-584-9923, or call Benjamin Lewis of Perception, Inc. at 301-963-7555.
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| February 17, 2004 |
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Little Rock’s DataPath and NovaSys Health Appear on CNBC’s Power Lunch |
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Little Rock, AR (February 17, 2004) – DataPath, a leading provider of software solutions for employee benefits, and NovaSys Health, a medical third party administrator, appeared on CNBC’s “Power Lunch” today to discuss myResourceCard®, the MasterCard® credit card with the added benefit of inter-connectivity with your employee benefit plans. |
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Little Rock’s DataPath and NovaSys Health Appear on CNBC’s Power Lunch to Introduce myResourceCard®
Little Rock, AR (February 17, 2004) – DataPath, a leading provider of software solutions for employee benefits, and NovaSys Health, a medical third party administrator, appeared on CNBC’s “Power Lunch” today to discuss myResourceCard®, the MasterCard® credit card that bridges bank credit with employee benefits.
Originally a Corporate Credit Card, DataPath changed the focus of myResourceCard® to a Consumer Credit Card in response to IRS Revenue Ruling 2003-43. This ruling enumerated issues including the Tax Form 1099 filing requirements for debit and corporate cards (scenarios 1 & 3 respectively). Recently proposed regulations may do away with the 1099 filing requirements for medical expenses directly paid from Flexible Spending Account (FSA) and Health Reimbursement Account (HRA) Plans but will in no way affect the filing requirements for Transportation and Parking Plans or Dependent Care Plans.
“We were pleased to provide the CNBC Audiance with pertinent information on a product which will positively influence the way in which these benefit plans are offered to employees,” said John Robbins, Sr., president of DataPath. “This appearance, among others, greatly solidifies the fact that myResourceCard® is a valuable tool to corporations throughout the country.”
For more information on myResourceCard®, contact DataPath at 501-296-9990, or call Benjamin Lewis of Perception, Inc. at 301-963-7555.
ABOUT DATAPATH
DataPath, founded in 1984, is a management-owned, privately held company based in Little Rock, AR, and produces software solutions for administering employee benefit plans. Clients include employers, outsourcing benefit consultants, and plan service providers.
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| November 06, 2003 |
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What Are People Saying? |
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WHAT ARE PEOPLE SAYING?
“We priced other packages, but it was DataPath that came out and helped us
understand how it would affect our bottom line and how it was relevant. The
thing we like the most about DataPath is the service after sale. We appreciate the quick response time with the DataPath tech support." |
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Document available for download:
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WHAT ARE PEOPLE SAYING?
"We priced other packages, but it was DataPath that came out and helped us understand how it would affect our bottom line and how it was relevant. The thing we like the most about DataPath is the service after sale. We appreciate the quick response time with the DataPath tech support. DataPath understands the need for information in a timely manner."
— Patrick Ball
Oak Hill Financial Administrators
"We’ve already lost some clients to debit card solutions because I’ve refused to go the debit card route. There are a multitude of reasons for going to the credit card (myResourceCard®). There’s protection from the employer’s standpoint, the adjudication process, and making the employee liable for invalid expenses."
— Gay Robinson
Flex Comp Administrative Services
"Professional, top-notch systems. I’ve looked at a variety of software (solutions) but I’ve not seen anything that’s going to compete with DataPath."
— David Tans
PayCom Business Services
"This (myResourceCard®) seems like a much better solution than debit cards for a lot of reasons. As far as the competition out there, I think their systems are inferior to what is available at DataPath."
— Peter Sorenson
PayCom Business Services
"DataPath’s systems are straightforward, easy to use, and all integrate seamlessly with each other. I appreciate the high caliber of people that work at DataPath and my ability to get answers when I need them. I’ve always had the ability to get problems solved. I’ve never been left up the river without a paddle."
— Sharon Tanner
Central Bank
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| October 15, 2003 |
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DataPath Introduces myResourceCard® |
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Little Rock, AR (August 13, 2003) –DataPath, Inc. Today announced the release of an innovative, “second-generation” employee benefits card platform, myResourceCard®, featuring a MasterCard® branded Employee Credit Card. Designed to reduce the time and expense of employee benefit administration. |
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Document available for download:
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DataPath Introduces myResourceCard®
Little Rock, AR (August 13, 2003) – DataPath, Inc. today announced the release of an innovative, “second-generation” employee benefits card platform, myResourceCard®, featuring a MasterCard branded Employee Credit Card. Designed to reduce the time and expense of employee benefit administration, myResourceCard® manages transactions for employee Flexible Spending Accounts (FSA) and Health Reimbursement Accounts (HRA) at the point of sale. However, as a credit card, myResourceCard® is significantly different from competing debit card programs currently on the market.
DataPath’s founder, John Robbins, explained the decision for a credit card model this way, “We’ve provided benefit administration solutions for more than 20 years now and are well acquainted with the disadvantages inherent with debit cards. Our second-generation employee credit card eliminates many of the IRS compliance and operational problems associated with debit cards. We’re convinced that plan administrators and employers will appreciate the simplicity and efficiency of myResourceCard® in managing FSA and HRA employee benefits.”
While electronic payment cards for Flexible Spending Accounts have been available for several years, the first generation approach has faced a number of obstacles. These “debit cards” require employers to “pre-fund” accounts and puts the payment liability on the benefit plan(s). Not only does this approach negatively impact employer flexibility in managing cash flow, but it places an additional responsibility on the employer to “Pay and Chase” funds or documents from the employee in the case of unsubstantiated or denied claims.
With debit cards, the full amount of the employee’s annual election is “funded” during the year to support the employee debit card transactions. In each transaction, the funds are paid and removed from the employer bank account before the plan administrator reviews the claim for reimbursement. In the case of unsubstantiated or disallowed claims, the employer must chase either the proper documents or the employee funds to reimburse the plan.
As explained by DataPath, under the myResourceCard® system, employees are provided with a restricted line of revolving credit independent of their annual elections and managed as an employee liability for repayment. Submitted claims approved by the plan administrator, after the transaction, are reimbursed directly to the consumer’s credit card account. If the claim is unsubstantiated by the employee or disallowed, the credit card charge remains as an obligation of the employee for repayment.
Through the DataPath software, employees can take advantage of the new IRS rules for “auto-substantiation” of claims and reduce the paperwork associated with claim processing. The IRS has specific rules for “auto-substantiation,” and myResourceCard® is one of the few systems to meet these requirements reliably and seamlessly. On this platform, DataPath is able to achieve 100% compliance with the recently released IRS rules.
In a recent article, industry expert John Hickman, Esq. (Alston & Bird, LLP) comments, “…Moreover, with some of the debit card constructs we have seen, serious compliance concerns may arise under HIPAA’s EDI and ERISA’s plan asset requirements. … Electronic payment cards can come in the form of a debit card (or “stored value card”) or credit card. While the cards look alike, the differences in legal compliance may be significant.” In summarizing elements of a compliant electronic payment card system, Hickman goes on to point out that, “…the participant should be directed by the Plan to obtain and retain all necessary documentation to substantiate the claim at the time a transaction is completed. If inadequate substantiation is provided, then the employer must have procedures to “pay and chase” the previously paid claim.”
Since the employee credit card model keeps the employee liability separate from that of the employer, it appears that myResourceCard® has provided an effective way to reduce the employer liability for the IRS required “pay and chase” procedures.
DataPath’s announcement highlighted the following advantages to plan sponsors and administrators.
Increase Employee Participation
myResourceCard® eliminates the hassle of pre-paying expenses out of pocket and waiting for reimbursements. Results have shown that enrollments can increase 25% to 50% by offering an employee bank card. Employers can save at least 7.65% in payroll tax for every employee dollar contributed to a Flexible Savings Account plan. Higher participation and more contributions generate more savings. myResourceCard® also makes it easy to take advantage of new IRS rules that permit over-the-counter (OTC) medical purchases from the employee’s flexible spending account.
Eliminate “Pay and Chase”
Debit cards directly link payments to the FSA account. Debit card transactions move money out of the plan and force the administrator to recover funds from the employee for disallowed claims. This “pay and chase” requirement of debit cards can significantly increase the cost of administration. myResourceCard® eliminates “pay and chase” since disallowed claims remain the employee’s payment responsibility to the bank.
Avoid the required reconciliation between debit card balances and FSA elections
Debit cards require ongoing reconciliation between the card balance and remaining FSA balance. Overpayments or insufficient funding create unnecessary administrative complexity between the source of record and the related debit account. With myResourceCard®, reimbursements are made from the FSA to the employee credit card after adjudication. Reconciliation is simple and the administrative cost is reduced.
myResourceCard® solution is available under a limited release schedule during the remainder of 2003 with a full release after the first of the year. For more information on myResourceCard®, contact DataPath at sales@dpath.com or call (501) 296-9990.
ABOUT DATAPATH
DataPath, founded in 1984, is a management-owned, privately held company based in Little Rock, Arkansas, that produces software solutions for administering employee benefit plans. Clients include employers, outsourcing benefit consultants, and plan service providers.
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Source: DataPath, Inc.
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