myResourceCard™

Simplicity, Efficiency and Natural Boundaries are just three differentiating elements of myResourceCard™, the electronic payment program that "bridges bank credit with employee benefits."

Simplicity - Communication, Administration and Implementation made simple.

myResourceCard™ delivers the most comprehensive electronic payment system designed with an approach that is easy to communicate to your clients and their employees. myResourceCard™ is built on the Consumer Credit Card platform and functions very similar to the credit cards that are already in millions of wallets across the country. The Credit Card approach provides you with a competitive advantage in your market. With myResourceCard™ you are giving your employees convenient access to the bank credit they need and empowering them with choices, tools and on-line connectivity required for them to become efficient consumers of healthcare.

Employers, Employees and Administrators have 24 / 7 access to account transactions and history via the secure web portal, myRSC.com

myResourceCard™ requires no pre-funding of employer accounts, no complicated reconciliation between the card balance and the employees' plan accounts, eliminates the hassle of pay & chase, eliminates timing gaps between plan fund availability and plan reimbursements and never requires filing of Tax Form 1099.

Efficiency - Seamless Integration is Efficiency

myResourceCard™ bridges Card Services with DataPath's Suite of Administration Systems for Flexible Spending Accounts, Health Reimbursement Arrangements, Dependent Care Plans and Transit Plans. myResourceCard™ efficiently manages the inter-connectivity between the cards' financial transactions and the employees' plan reimbursements from numerous benefit programs which, in turn, reduces your administrative expenses, reduces reimbursement check processing, streamlines customer support and enhances quality administrative practices. You can have all this without disrupting your claim adjudication process that you currently have in place. Let the efficiencies of a single-source-solution provider take your administrative services to a new level of quality, service and profitability.

Profitability - Through Credit not Debit

myResourceCard™ from DataPath improves your bottom line…

myResourceCard™ is an innovative credit card that can 1) generate more income, 2) reduce expenses and 3) improve the profitability of plan administration. It can not only increase plan participation and increase total revenue, but since it’s a credit card it will save time and expense in critical areas where other cards may actually increase your overhead!

Increased Participation equals Increased Revenue

myResourceCard™ eliminates the hassle of pre-paying expenses out of pocket and waiting for reimbursements. Paperwork is reduced! 100% compliance with new IRS rules to automate claim processing. Results have shown that enrollments can increase 25% to 50%.

Employers can save at least 7.65% in payroll tax for every employee dollar contributed to a Flexible Savings Account plan. Higher participation and more contributions generate more savings. Higher participation means more services and increased fee generation.

myResourceCard™ also makes it easy to take advantage of new IRS rules that permit over the counter (OTC) medical purchases from the employee’s flexible spending account. This flexibility provides the opportunity to deliver additional services to the employer and employee.

Reduce Expenses

Controled Cash Flow
A credit card uses bank funds advanced under a credit line instead of a Pre-Funded bank account established with employer funds. Since myResourceCard™ is a credit card every employer has greater control over the cash flow from beginnig to end. This fundamental difference has significant implications in plan administration and the total costs to your operation.

Eliminate “Pay and Chase”
"Pay and Chase" is the practice of advancing plan funds to pay for a charge at the point of sale then pursuing the employee for appropriate documentation that the charge was for an eligible plan expense. These types of payments directly link a payments to a provider to the actual reimbursement account. myResourceCard™ eliminates “pay and chase” since the provider is paid from a bank issued credit line and not actual plan funds. The employee / plan participant simply submits the appropriate documentation to the administrator and the plan reimburses the credit account. Any charge that is not substantiated by the administrator remain the employee’s responsibility and pays the bank when the monthly statement arrives!

Simplified reconciliation between the card balance and FSA elections
With myResourceCard™, plan reimbursements are made from the FSA to the employee credit card after proper claim submission and adjudication. Reconciliation is simple and the administrative costs are reduced! With other cards, payment is made from the FSA plan before proper substantiation occurs. Because of this, the reconcilliation between the card balance and the plan accout can be more complicated than necessary.

Improve Profitability

With myResourceCard™, bank fees are billed directly to the cardholder and paid by the employee. Separating the card fees from your administration means you can deliver a competitive and highly profitable solution.

myResourceCard™ : The Financial Vehicle of Choice
Built by professionals who understand the business, myResourceCard™ is guaranteed IRS compliant and provides a solution that features simplicity, efficiency, profitability and embraces the natural boundary between the credit card and the reimbursement program.

Natural Boundaries - The Role of the Credit Card and the Benefit Plan

myResourceCard™ maintains the seperation between the Credit Card and the Employee's Benefit Plan. Each has a specific and independent role to play in delivering convenience through the electronic payment arrangements emerging in today's benefit administration arena. See how each element of the myResourceCard™ solution adheres to their natural boundaries and enhances the total benefit package.

P.O. Box 25230
Little Rock, AR 72221

501.219.4444
800.294.3557
Fax: 501.219.4455