What does the difference card pay for?
The Difference Card is a benefit account funded entirely by your employer. We help pay for bills your health insurance company says are your responsibility.
Is the difference card an HRA?
Reduce your out-of-pocket healthcare expenses by leveraging a Difference Card HRA. Unlike a Healthcare FSA where the IRS defines the eligible services, the employer defines the services eligible for reimbursement from an HRA.
Is the difference card an FSA?
The Difference Card makes accessing FSA funds a breeze! The Difference Card can be funded with the employer’s Difference Card Account funds AND employee FSA dollars- all on one card! The Difference Card is programmed to know which account to take money from when swiped at the point of service.
What is the difference between a MERP and an HRA?
An HRA typically only reimburses deductible & coinsurance expenses. A MERP allows for a lot more flexibility. A Medical Expense Reimbursement Plan allows for multiple member plan designs, which can be achieved from a single underlying carrier plan.
What is a medical difference card?
The Difference Card disrupts the healthcare status quo by helping clients create unique benefit plan designs. These plans allow you to lower your health insurance costs while maintaining a level of benefits that exceeds your company’s expectations.
Does the difference card cover dental?
Medical Expense Reimbursement Plan (MERP): The administration of complex partially self-funded plan designs that combine multi-line benefits such as doctor’s office visits, urgent care, emergency room, hospitalization, surgery, mental health, pharmacy, dental and vision coverage.
Can I use my FSA for a tummy tuck?
Unfortunately, the answer is no. The Internal Revenue Service makes a distinction between a cosmetic procedure and one that is medically necessary.
What surgeries does FSA cover?
Procedures that are covered by insurance may include breast reduction surgery, gynecomastia breast reduction, breast reconstruction following breast cancer treatment, earlobe repair following traumatic injury, otoplasty to correct hearing, blepharoplasty to correct vision, rhinoplasty when deemed medically necessary …
What are reimbursed medical expenses?
A Medical Expense Reimbursement Plan allows businesses to pay for part of their employees’ deductibles, copays, or co-insurance and any other qualified medical expense, tax-free. These plans are incredibly flexible and allow the business to come up with any sort of suitable arrangement.
What is the limit of medical reimbursement?
Rs 15,000
One can claim reimbursement of medical expenses by submitting the original bills to the employer. The employer would accordingly reimburse such expenses incurred subject to the overall limit of Rs 15,000 without tax deduction.
What does the difference card cover?
Who owns the difference card?
Pharos Capital Partners
The Difference Card was acquired by Pharos Capital Partners on May 21, 2014 .
What does difference card do for health insurance?
The Difference Card disrupts the healthcare status quo by helping clients create unique benefit plan designs. These plans allow you to lower your health insurance costs while maintaining a level of benefits that exceeds your company’s expectations.
How does the difference card help your agency?
Stand out in a crowd: The Difference Card’s unique health insurance solution can differentiate your agency in a crowded brokerage marketplace. Grow your agency: In 2020 alone, The Difference Card strategy helped to win over $100 MILLION in new “broker of record” medical premium for its partners.
What are the results of a difference card?
The results speak for themselves: Difference Card clients are loyal to the program because they see the savings. We have a 90% retention rate because we help employers adopt a strategy that drives savings. After five years, most clients continue to spend less on health benefits than they did before implementing The Difference Card.
How to submit a claim on the difference card?
Download the Difference Card Mobile from your App Store. Click SUBMIT CLAIM to take a picture and add a claim right from your phone! *For security reasons, you will need to register and create an account, even if you have already registered on The Difference Card website.