Benepass vs. Forma Life Benefits Platform

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.

Incentivized

I think Forma is pretty clear on the intention of using the funds to either positively contribute to your health or getting out with your friends and family. It takes some sting out of extracurricular activities that can, otherwise, be expensive. I think some people have tried to use it for stuff other than what it is intended for. This goes back to people not knowing which businesses will be considered acceptable to use Forma at.

Incentivized

• Tracking how much of my stipend I have available to spend each month/year
• Uploading receipts is easy
• Adding bank account is seamless and direct deposit occurs quickly after expense approval

Incentivized

• Has amazing products
• Makes purchasing products and services easy
• Has great product/service descriptions and photos
• Easy to navigate site
• Easy to purchase products

Incentivized

• 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.

Incentivized

• Clarification on what places accept Forma
• Not sure if there's an app, but if not, that would be helpful for checking balances

Incentivized

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.

Incentivized

I have not used anything similar to Forma in the past.

Incentivized

• 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.

Incentivized

• Allows employees access to wellness products
• Works in tandem with our other health-related programs
• Provides a great incentive for our teams to strive for better health

Incentivized