Reminder: The IRS deadline for drug store and pharmacy merchants to support an IIAS solution or file for the 90% Rule is June 30th, 2009, if they wish to continue processing FSA card transactions. Please view the IIAS Merchant List and 90% Rule Merchants List at www.sig-is.org.

The Benny™ Prepaid MasterCard® eliminates the need for employees to pay cash for eligible services. With The Benny™ Card, participants simply swipe the card and the funds are automatically deducted from the applicable benefit account(s) for payment. Most out-of-pocket cash outlays and paperwork are eliminated, as well as the need to wait for reimbursement.

The Benny™ Card is compatible with Flexible Spending Accounts, Health Reimbursement Accounts, Health Savings Accounts (myHSAonline.com accounts only), and other benefit accounts. By adding The Benny™ Card to the services we offer, you can:

• Increase employee satisfaction
• Strengthen employee responsibility for personal health care choices
• Boost employee understanding of the cost of their benefits
• Significantly improve participation rates and contribution levels leading to additional FICA tax savings

Why Choose The Benny™ Card?
Simply put, everyone benefits from The Benny™ Card! It's unequaled in its ability to provide convenience to the employee and simplify the administration of FSA, HRA, and HSA plans.

Employer Benefits

• Plan participation increases, saving an employer at least 7.65% in FICA taxes for every employee dollar contributed
• Helps offset rising health care costs
• Reduces administrative burdens and paperwork

Employee Benefits

• Instant access to account funds with no out-of-pocket expenses
• Reduces those lengthy claim forms and the long wait for reimbursement checks
• 24/7 online access to real-time account information allowing employees to check their balance any time

About Evolution Benefits, The Benny™ Card Provider
Evolution Benefits (EB) has been the clear technology leader in benefits cards since 2002, with The Benny™ Card being the company‘s primary product. EB was created in part by the team that built Value Health, the nation’s largest specialty managed care company covering over 70 million people in the 1990s. The company began operation in 2002 with a mission to develop new products and technologies in order to support all stakeholders in a consumer-directed benefits environment.

In 2007, Evolution Benefits was granted patents for its core auto-substantiation technologies with additional patents pending. In that same year, EB was the first to receive the award for Most Innovative CDHC Product or Solution – Payment Card. In 2006, EB received the Deloitte Technology Fast 50 Rising Star for Connecticut, Connecticut Quality Improvement Award Gold Innovation Prize, and the Network World Enterprise All-Star Award.

Evolution Benefits’ current book of business includes:

• Over 110 TPAs
• 45 health plans
• Almost 5,000 clients using Benny™ through TPA partners (including 60 Fortune 1000 employers)

What are Evolution Benefits' differentiating features?

• Unsurpassed experience and knowledge - EB’s management team averages more than 20 years in the employee benefits and health care industries. No other benefits card company offers that level of expertise.
• Maximum electronic substantiation choices - By providing the best in auto-substantiation technology, EB reduces the number of receipt requests, thereby increasing participant satisfaction. Overall, EB’s book of business using PBM data enjoys an 80-90% electronic substantiation rate, meaning that cardholder follow-up is needed in only 10-20% of transactions. By offering the maximum in electronic substantiation choices, EB drastically minimizes the amount of paperwork for all involved.
• A multi-account, “stacked” card - EB offers the most innovative, versatile account stacking functionality in the market today, providing a simple, flexible platform for consumer-directed health products. EB can administer more than 35 accounts on the same card, with shared merchant category codes. Rules for order of account access can vary by the employer or plan rules. The Benny™ Card can handle transactions split across accounts, without any additional work at the point of service. It can also electronically support the Treasury/IRS ruling allowing a 2½-month grace period during which unused FSA contributions from the previous year may be accessed in the current year.
• Comprehensive Communications - EB believes strongly in the need for employees to understand the value of tax-favored benefit programs, how to properly use such programs and the value of The Benny™ Card in accessing and managing funds. EB has established a comprehensive set of tools for use in promoting FSAs, HRAs, HSAs and The Benny™ Card including pre-enrollment and enrollment materials and cardholder communications.
• Quality Partnerships - EB is always developing new partnerships to add value and additional convenience to using Benny™.
  • Trustee Partners – EB has partnered with several of the most respected financial institutions in the U.S. to offer a comprehensive HSA product to our administrator and health plan partners. These partners offer an array of Morningstar highly rated funds and core money market accounts, enabling participants to direct funds into long-term investment vehicles.
  • Merchant Partners – EB has formed partnerships with Walgreens, drugstore.com, Wal-Mart, Sam’s Club, visiondirect.com, and 1-800 CONTACTS to offer 100% paperless, IRS-compliant systems for electronic substantiation of FSA eligible items (including prescription, over-the-counter, and vision).

Learn more about Benny™ Program Features.