The TASC Card now features an industry-first combination! This debit card offers a cash account in conjunction with the usual benefits account!
Madison, WI (October 16, 2011) – The next generation in healthcare payment systems has arrived. TASC (Total Administrative Services Corporation), which provides employers from small to large with innovative, tax-advantaged employee benefits programs, has released the latest innovation in employee benefits account debit card technology. Used by over 2,300 Cardholders to date, the new TASC Card provides Participants with unparalleled access to funds, as well as greater flexibility and convenience when using those funds. More than 250,000 Plan Participants will begin to take advantage of this innovative new card over the next few weeks.
The revolutionary TASC Card actually manages two separate accounts. (1) As TASC pioneered several years ago, the TASC Card’s MyBenefits account is connected to various employee benefits account(s), such as Flexible Spending Accounts (FSAs) or Health Reimbursement Arrangements (HRAs). Plan Participants use the benefits accounts to make purchases that are deemed eligible by their specific benefits account(s). (2) With MyCash, the TASC Card is now connected to a cash account as well. When using the funds in the MyCash account, purchases are not limited regarding their type.
The TASC Card is smart! It automatically determines the eligibility/ineligibility of each item being purchased, and knows whether to use MyBenefits, MyCash, or a combination of both. For eligible benefits account purchases, the MyBenefits funds are accessed first. For all other items—or if MyBenefits funds are insufficient to cover the eligible items—the TASC Card will automatically access MyCash to complete the purchase. As long as MyCash funds are adequate a TASC Card holder will never face embarrassing declines again.
Since 1975, TASC has used technology to enhance employee benefits account administration, and to make these benefits more accessible to employers and employees alike,” stated TASC Chief Executive Officer Daniel N. Rashke. “The new TASC Card is our latest innovation designed to ensure our customers receive the greatest benefit possible from their participation in these accounts.”
