Benepass is great for employees that want to keep track of how much of their stipends they have used. It really ensures employees are taking advantage of the perks and benefits their company is offering. Uploading receipts is really easy to use as well so the amount of time spent by employees is minimal when taking advantage of their stipends. I believe this would maximize employee happiness and satisfaction with their company, therefore helping with employee attrition.
If you are looking for a company that will be thorough in the substantiation process and will have the employee ready in the event they are audited, WEX is perfect. If you employees have a hard tolerating being asked multiple times to substantiate similar or same claims, this company is likely not for you.
In my experience, frequent denial of coverage to be later reversed
In my experience, poor complain processing rules
need PAPER checks to be sent if you need to reimburse them. PAPER! They don't accept credit cards. A credit card processing company that doesn't accept credit cards.
When using a virtual card, I still need to submit details for the expense. It feels like it would just be easier to fill in an expense rather than setup a virtual card for recurring payments that are reimbursed through stipends.
I did not select Benepass as I’m not a decider for that in my company. But as a user, I think Benepass is better than my experience with Airbase due to the ability to track how much of my stipends I have spent. I would say it matches with Expensify, they are both similar to me and offer the same set of key features such as tracking various stipend spending/amounts and the use of virtual cards.
We never really had one place for all of our HSA, FSA and COBRA needs. We used multiple vendors and our employees a variety of vendors and banks they could set up their accounts with. WEX really help simplify and uniforms the whole process and help streamline all HSA, FSA and COBRA processes
Employee retention. It helps employees take advantage of the awesome benefits and stipends their employer offers. Without seamless software to use here, employees may easily forget or just not use their benefits.
