Great software for tracking monthly/annual stipends.
I’m an employee that uses Benepass for expense reports. My company offers several different stipends and benefits to their employees so …
Overview
What is Benepass?
Benepass is positioned as a flexible benefits platform designed for people-first companies. According to the vendor, it offers personalized, global employee benefits programs that adapt to the needs and preferences of employees. The platform is suitable for businesses of various sizes, from small enterprises...
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Product Details
- About
- Tech Details
What is Benepass?
Benepass is positioned as a flexible benefits platform designed for people-first companies. According to the vendor, it offers personalized, global employee benefits programs that adapt to the needs and preferences of employees. The platform is suitable for businesses of various sizes, from small enterprises to large corporations, and caters to industries such as tech, healthcare and biotech, retail, financial services, and professional services.
Key Features
Benepass Remote Work Account: According to the vendor, this feature is designed to support employees working remotely or in a hybrid work environment. It allows companies to provide a stipend for setting up a productive home workspace, covering expenses such as office furniture, supplies, technology, phone and internet service, and coworking office subscriptions.
Benepass Rewards and Recognition: The vendor states that this program enables companies to personalize employee recognition by providing a monetary reward. Employees can choose how they want to be celebrated and use their Benepass Rewards and Recognition funds to purchase gifts or experiences that are meaningful to them.
Benepass Lifestyle Spending Accounts: According to the vendor, this feature offers employees flexibility in spending their benefits across categories such as fitness, mental health, family care, and professional development. Employees can use their Benepass Lifestyle Spending Account to pay for expenses like gym memberships, therapy sessions, child care, and educational courses.
Benepass Wellness: The vendor claims that this feature empowers employees to personalize their own wellness journey. Companies can offer a range of wellness benefits, including fitness memberships, wellness classes, mental health services, and wellness products. Employees can use their Benepass Wellness funds to pay for these wellness expenses.
Benepass Flexible Spending Accounts: According to the vendor, this feature enables employees to use pre-tax dollars to cover qualified medical expenses. Employees can contribute a portion of their salary to the account, which can be used for expenses such as doctor visits, prescription medications, and medical supplies. The funds in the account are tax-free, helping employees save money on healthcare expenses.
Pre-tax Benefits: The vendor claims that Benepass allows companies to design and manage various pre-tax benefits programs, providing employees with tax advantages for expenses like healthcare, dependent care, and commuting.
Perks Programs: According to the vendor, companies can create and manage perks programs with Benepass to offer employees exclusive discounts, deals, and special offers from a wide range of vendors and service providers.
Health Reimbursement Arrangements: The vendor states that Benepass supports the management of health reimbursement arrangements, allowing companies to provide employees with tax-free funds to cover eligible healthcare expenses.
Family and Childcare Accounts: According to the vendor, this feature enables companies to offer family and childcare accounts, allowing employees to set aside pre-tax dollars to cover expenses related to dependent care, including daycare, after-school programs, and summer camps.
Commuter Programs: According to the vendor, Benepass helps companies manage commuter programs, allowing employees to use pre-tax dollars to pay for eligible commuting expenses such as public transportation passes, parking fees, and bike-sharing memberships.
Benepass Features
- Supported: Deduction Management
- Supported: Employee Benefits Administration
- Supported: HSA/FSA Administration
- Supported: Online Benefits Enrollment
- Supported: HIPAA Compliant
- Supported: Benefits Dashboard
- Supported: Benefits Administration Outsourcing
Benepass Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Web-Based, Android, iPhone, iPad |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
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- Recommendations
Benepass has become an invaluable tool for users in managing their wellness and health expenses. With the app, users have been able to easily access funds for a variety of purposes, including fitness memberships, massages, and self-care activities. The streamlined process of submitting expenses and receiving reimbursements has made it quick and efficient for users, eliminating the need to fill out reimbursement requests and submit receipts. Users appreciate the convenience of having available funds to use throughout the year for food, health services, and other expenses, as well as being able to easily track their FSA funds and company-specific perks. Benepass has also provided users with a wellness benefit stipend that covers expenses such as workout classes and hair appointments, making them feel valued by their company. The flexibility of using the provided card for various wellness purposes without any challenges has been highly appreciated by users. Additionally, Benepass has helped users control their monthly stipends for food, reducing stress and streamlining the process of submitting stipend expenses. Overall, Benepass has proven to be an easy-to-use solution that solves the issues of constantly submitting receipts for reimbursement and ensures that comprehensive benefits packages are fully utilized.
Seamless and efficient solution: Users have consistently praised Benepass as a seamless and efficient solution for managing reimbursements and wellness funds provided by their company. Many reviewers have stated that the software makes it incredibly easy to navigate and complete transactions with just a few clicks, resulting in a hassle-free experience.
User-friendly and intuitive interface: The user interface of both the web and mobile versions of Benepass has received high praise from users. They find it highly user-friendly and intuitive, making it easy to navigate and use the software. This positive sentiment is further reinforced by reviewers who mention that the app takes a minimal amount of clicks to access relevant information, providing a satisfying experience.
Notifies about expiring funds: One standout feature of Benepass that users appreciate is its ability to notify them when their funds are about to expire. This ensures they don't miss out on utilizing their allocated budget effectively. Some users have specifically mentioned this notification feature as being highly appreciated, contributing to an overall positive experience with the platform.
Long Reimbursement Process: Several users have expressed their dissatisfaction with the length of time it takes to receive reimbursements through Benepass. Some users have mentioned that they had to wait over a month to receive their reimbursements, which can be frustrating and inconvenient.
Limited Merchant Coverage: A few users have mentioned that they would like more options and coverage in small towns. They also expressed a desire for clearer information about which merchants are eligible for certain categories, as different branches of the same merchant sometimes have varying classifications. This lack of clarity makes it difficult for users to know where they can use their benefits effectively.
Lack of Notifications and Updates: Some users have mentioned that the app could improve in terms of providing notifications and updates about expiring funds or remaining balances. Users feel that better communication regarding the need to link a bank account, reasons for reimbursement rejections, and reminders about unused funds would greatly enhance their experience with Benepass.
Users have made the following recommendations for Benepass based on their experience using the tool for managing company benefits:
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Users recommend Benepass for its ease of use and intuitive interface. They have found it straightforward to navigate and complete tasks without any issues. The user-friendly design of the tool has made it easy for them to manage their company benefits effectively.
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Another common recommendation is for the comprehensive features offered by Benepass. Users appreciate the wide range of benefits that can be managed through the tool, including health insurance, retirement plans, and flexible spending accounts. They find it convenient to have all their benefits in one place, making it easier to keep track of and make changes when needed.
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Users also praise Benepass for its excellent customer support. They have had positive experiences with the support team, finding them responsive, helpful, and knowledgeable. Customers appreciate receiving prompt assistance whenever they have encountered any issues or had questions about using the tool.
Overall, users highly recommend Benepass as a reliable and efficient tool for managing company benefits. Its ease of use, comprehensive features, and responsive customer support contribute to a positive user experience.
Reviews
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February 26, 2024
Great software for tracking monthly/annual stipends.
I’m an employee that uses Benepass for expense reports. My company offers several different stipends and benefits to their employees so Benepass is used to manage all of our stipends that refresh either monthly or annually. The business problems it addresses are easy management and tracking of stipend spending throughout the business. It saves employees time and enhances their experience when electing to use the stipends offered by the company,
- 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
- 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.
- 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.
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.