Health Savings Accounts
A Health Savings Account is a personal savings account that allows employees to set aside pre-tax dollars for current and future health care costs.
With a Difference Card HSA, employees who are enrolled in an HSA-eligible deductible health plan are eligible to open an HSA.
Employers have the option to contribute to their employees’ HSAs as well. Health Savings Accounts cover expenses like copayments, doctors visits, deductibles, coinsurance and prescription drugs.
Flexible Spending Accounts
Simply put, a Difference Card FSA is now more powerful than ever!
The bottom line: FSAs save employees money. The contributions employees make to an FSA are deducted from their paycheck on a pre-tax basis – before federal income, social security, and most state taxes.
The end result of FSA contributions is a lower taxable income, and a tax-advantaged vehicle to pay for out-of-pocket healthcare expenses.
Dependent Care Flexible Spending Account
A Dependent Care Flexible Spending Account is designed to provide financial support to parents who work full-time.
Child and dependent care is a large expense for many American families.
Millions of people rely on child care to work, while others are responsible for older parents or disabled family members. Participants in a Dependent Care Account can save on these expenses while they work.
Health Reimbursement Arrangements
Reduce your out-of-pocket medical expenses by leveraging a Difference Card HRA
An HRA is a reimbursement account set up and funded by an employer to cover eligible healthcare expenses.
Unlike a Healthcare FSA where the IRS defines the eligible services, the employer defines the services eligible for reimbursement from an HRA.
Since an HRA is created and funded by the employer to pay for your employees’ eligible healthcare expenses, employers can decide which services will be covered under the HRA.
Difference Benefits Admin System
Streamline your benefit administration with the Difference Benefits Admin System
The Difference Benefits Admin System is a comprehensive suite of products including a new online enrollment services platform, HR Portal, COBRA Administration, and our interactive benefit decision tool: DANNY!
With the new Difference Benefits Admin System, you will have access to our Online Enrollment Services Platform.
Lifestyle Spending Account
The ability do deliver financial assistance and perks that more closely align with what employees want and need.
Not every employee has the same lifestyle needs. The Difference Card Lifestyle Spending Account gives employers the flexibility to allow employees to spend benefit dollars on the things that matter most to them.
From physical and mental health needs, to professional and educational development, to medical travel and entertainment, employers have complete freedom to determine how their employees are able to spend their lifestyle spending account dollars.
Learn more about a Difference Card Lifestyle Spending Account
A new dental solution.
Are you paying high fixed monthly premiums for a dental benefit that has a low annual benefit payout?
Dental Difference is designed to empower employees and provide top line dental benefits. Shift away from the limiting traditional 100% / 80% / 50% payout model to a streamlined 100% funding approach using the Dental Difference technology and only pay for what you need.
Instead of giving the insurance company high fixed dental premiums, utilize the Dental Difference and only pay for dental claims that are actually incurred by your employees. Only pay for what you need.
Commuter & Transit Accounts
A tax-free way to travel.
Though mass transit has always been eco-friendly and a great way to get to work, employees have to cover costs from bus passes and tokens.
With a Transit and Parking Account — also called a Commuter Account — participants can use a tax-favored vehicle to cover the costs associated with their commute.
Compliance Services from The Difference Card
We help you stay in compliance.
The Difference card offers ERISA Compliance Services to support brokers and employers to protect themselves from costly penalties. The penalties are steep, the steps complex and the paperwork requirements are outdated.
The Difference Card can help you and your clients stay in compliance. We provide all our administrative clients unlimited plan documents, amendments, restatements, and non-discrimination testing. All compliance services are fully included to help our clients protect themselves from penalties and fees.