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.
It is well suited to help us see exactly which employee and which company the employee is with and how much they employee spent. I really like the reports that it generates and the detail it gives. However I would like to see more details. It would be nice to see the exact date the funds were withdrawn and where the funds were spent. I think this could help us determine that the employee is spending the funds at correct locations and help us when we do our reconciliations of these accounts.
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.
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.
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.
We formerly used TASC and it was a nightmare. We were not at all confident in their administration or compliance of FSAs, HSAs, or COBRA. When we were looking for a new third party administrator to replace TASC, we were immediately drawn to WEX Health. They offered an easy-to-use website, and it was clear that they were serious about compliance and proper administration of benefits.
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.
