BenefitWallet vs. WEX Benefits

While the user interface is relatively easy to use and offers nice functionality, from out experience, we had an issue that their fraud security was weak. One of our cards was somehow used out of state, at a pharmacy that it had never been used at before, with 3 transactions for exactly $100 each every day. One would think that some type of software AI would have flagged that as suspicious activity, but no. It was caught when the member tried to use the card and it was declined, and the last $100 transaction was processing, draining the account to zero. We called customer service, and they said paperwork was coming out - one document for each transaction, which was a huge amount of paperwork - via next day air to file the fraud claims. They were also supposed to put a freeze on the account immediately. After a week, NO paperwork had arrived, and when I called in to track it down I also found that the CSR had NOT shut the account down and the fraudsters were attempting further withdrawals of transactions for

Incentivized

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.

Incentivized

• In my opinion, poor application of IRS rules
• 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.

• In my experience, WEX has an inability to connect with other entities on the supply chain (bswift, internal benefits department).
• Slow support request turnaround (3-5 business days).
• Makes FSA substantiation unnecessarily difficult.
• Even when there’s a single itemized receipt for all charges, every charge must be substantiated with a separate upload.
• Even though doing so would satisfy IRS guidelines, WEX won’t accept third party explanations of services as FSA substantiation.

Incentivized

In my opinion, horrific website with poor design and usability. I think the company frankly does not care.

BenefitWallet was recommended to us by our Health Insurance Broker, so we did not explore other options. However, BenefitWallet is nice in that you don't need to keep receipts and transactions are generally accepted and not declined as happens with other providers.

Incentivized

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

Incentivized

• WEX Health has made administration of FSA, HSA, and COBRA so much easier
• I feel confident that WEX Health is compliant, as a company, and that they keep us compliant
• We are always able to call and talk to a knowledgeable representative when we have questions

Incentivized