Is Discovery benefits the same as WEX?

When did discovery benefits become WEX?

Our passion for continuous innovation and our unparalleled level of service were further fueled when Discovery Benefits – who we partnered with for more than 15 years – joined WEX in 2019.

Who took Discovery Benefits?

Discovery Benefits is rebranding to WEX.

What is a discovery benefit card?

The Discovery Benefits debit card is the fastest and most convenient way to pay for eligible expenses. The debit card makes it easy to access funds in your pre-tax benefits accounts, reducing your out-of-pocket costs. At many merchants, it also simplifies the way expenses are verified for eligibility.

What is WEX benefit?

WEX offers a comprehensive and competitive benefits package designed to help make life better – at work and at home. We believe employee wellbeing drives overall engagement and morale which positively impacts business results.

Did Wex health buy Discovery Benefits?

WEX Inc. WEX yesterday announced the completion of previously-announced acquisition of Discovery Benefits, Inc. (DBI). The transaction is valued at $425 million in cash, which includes $50 million to be deferred till January 2020.

Why did I get a WEX benefits card?

What is the WEX Health Debit card? The WEX Health Debit card is a special-purpose Mastercard that gives participants an easy, automatic way to pay for eligible Health Care FSA expenses. The Debit card lets participants electronically access the pre-tax amounts set aside in the Health Care FSA.

Did WEX health buy Discovery Benefits?

WEX Inc. WEX yesterday announced the completion of previously-announced acquisition of Discovery Benefits, Inc. (DBI). The transaction is valued at $425 million in cash, which includes $50 million to be deferred till January 2020.

Who is the CEO of Discovery Benefits?

Photo / Tim Greenway Melissa Smith, president and CEO of WEX Inc., announced today the company has signed an agreement to acquire Discovery Benefits Inc., a high-growth employee benefits administrator based in Fargo, N.D., for $425 million.

What can I use my WEX benefits card for?

debit card. Members enjoy quick access to funds via a VISA or Mastercard restricted, prepaid debit card for supplemental benefits such as dental, vision, hearing, fitness, chiropractic, acupuncture, groceries, OTC, home services, and more.

Where can I use my WEX benefits card?

The WEX benefits debit card works anywhere that offers an Inventory Information Approval System (IIAS) or at merchants that meet the IRS’ 90 percent rule. If used at an IIAS merchant, simply swipe your card to have any eligible expenses automatically approved. You can also pay out of pocket and request reimbursement.

What is covered by Discovery Benefits?

You can use your Discovery Benefits Debit Card for dental and vision and/ or preventive expenses only. If your plan allows, once you meet your annual deductible, you may use your Limited Health FSA (although not your card) for all eligible IRS expenses.

Can I use my discovery benefits card at Walmart?

For example, some of the payment methods that Walmart accepts include the following: EBT (not accepted online in Alaska, Montana, or Louisiana) Debit cards (Visa, MasterCard, etc.) Credit cards (AmericanExpress, Discover, etc.)

Is Discovery benefits a real company?

Discovery Benefits, Inc. provides employee benefit administration services. The Company offers flexible spending accounts, health reimbursement arrangements, transportation benefit plans, and related services. Discovery Benefits serves customers in the United States.

Can I use my WEX card on Amazon?

No. The WEX Health Payment card are special-purpose MasterCard and Visa Cards that can be used only for eligible health care/benefits expenses.

What Stores Can I use my WEX benefits card?

IRS regulations allow participants to use their WEX Health Debit cards in participating pharmacies, mail-order pharmacies, discount stores, department stores, and supermarkets that can identify FSA – eligible items at checkout and accept benefit prepaid cards.

Can I use my discovery benefits card for prescriptions?

You can use it to pay for day care, medical, and prescription drug costs that are not covered by insurance. … With the benefits debit card, you can pay your provider directly from your account.

Where can I use WEX benefits card?

The WEX benefits debit card works anywhere that offers an Inventory Information Approval System (IIAS) or at merchants that meet the IRS’ 90 percent rule. If used at an IIAS merchant, simply swipe your card to have any eligible expenses automatically approved. You can also pay out of pocket and request reimbursement.

Is toilet paper HSA eligible?

Lively, my pick for the top HSA account, maintains a very thorough list of qualified medical expenses that has been updated. Items like common deodorant, shampoo, soap, and toilet paper are not eligible.

What is covered by Discovery benefits?

You can use your Discovery Benefits Debit Card for dental and vision and/ or preventive expenses only. If your plan allows, once you meet your annual deductible, you may use your Limited Health FSA (although not your card) for all eligible IRS expenses.

What kind of company is Discovery Benefits?

Discovery Benefits is a high-growth employee benefits administrator, serving consumer-directed health care markets.

Is Discovery A benefit of health insurance?

Discovery Benefits is the Health Savings Account (HSA) vendor. A Health Savings Account enables members enrolled in the High Deductible Health Plan to pay for covered medical, prescription, dental, and vision expenses with pre-tax dollars.

Can I withdraw cash from my WEX benefits card?

Participants cannot get cash with the WEX Health Debit card. 22. How does the Debit card work in participating pharmacies, discount stores, department stores, and supermarkets? Bring prescriptions, vision products, eligible OTCs and other purchases to the register at checkout to let the clerk ring them up.

Is soap an HSA?

Soap is considered a general use product and not primarily use for the treatment, prevention or diagnosis of a medical condition and therefore is not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited-purpose flexible spending …

Can I use HSA for hand sanitizer?

Health savings account (HSA) participants may use the funds in their HSA to pay for masks, hand sanitizer, and sanitizing wipes on a pre-tax basis. Sponsors of flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs) may also allow these expenses to be reimbursed from their plans.

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