Likelihood to Recommend Less appropriate for small groups with one very simple health plan. More appropriate for 20+ EE groups with multiple plans and supplementary benefits.
Read full review 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 It would be nice to see the exact date the funds were withdrawn and where the funds were spent.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.
Read full review Pros Puts all of your healthcare selections in one place making changes, drops, and additions are taken care of in one place instead of having to contact every vendor individually. Keeps an accurate record of real time enrollment which helps when you are in an account manager role and handling client questions concerning their health plans. Provides tools to keep the client and yourself organized. Several Open Enrollment messaging tools and places to add any educational documents for the different health plans. Read full review In my opinion, poor application of IRS rules 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. Read full review Cons The more advanced options, such as HCM, could have a slightly more user-friendly dashboard for users who are not daily computer users. Needs to be easier to customize the homepage. Clients are always interested in adding in their own pictures, colors, welcome message position, etc. Needs to have a function where the employer can send a document for the employee to sign, open and capture the employee's signature, send back to the employer and save in the employee file. Read full review In my experience, WEX has an inability to connect with other entities on the supply chain (bswift, internal benefits department). Slow support request turnaround (3-5 business days). Makes FSA substantiation unnecessarily difficult. Even when there’s a single itemized receipt for all charges, every charge must be substantiated with a separate upload. Even though doing so would satisfy IRS guidelines, WEX won’t accept third party explanations of services as FSA substantiation. Read full review Alternatives Considered I have looked at GoCo, Kronos and Zenefits. I selected PlanSource because I felt it was the most customizable for a variety of clients across the board. The interface seemed functional but slightly professional looking than it competitors. PlanSource also seemed well established and that it was capable of handling my client needs.
Read full review 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.
Read full review Return on Investment Positive - Reduces time spent contacting vendors of enrollment changes. When you are dealing with several hundred employees and their dependents across several vendors that time starts to add up. Positive - Point of value when trying to gain or up sell a client. Negative - You do need to meet the minimum number of people on the platform as per your contact to avoid having to pay a fee to PlanSource. If one of your larger clients leaves that could be a potential issue. Read full review It's great to have all of our HSA, FSA and COBRA on one software One software helps reduce redundancy One software helps reduce errors Read full review ScreenShots