Item: WEX Benefits
Rating: 7
Author: Verified User

Overall Satisfaction with WEX Health (formerly Evolution1)

Use Cases and Deployment Scope

We use WEX Health for our employees HSA, FSA and COBRA accounts and tracking. It is a great tool for our employees to easily sign up and manage their HSA and FSA accounts. We also use it to track the billing of COBRA for our former employees. We run report off of it and it helps us track how much employees have spent out of their own individual accounts.

Pros and Cons

Pros

HSA account tracking for individuals
FSA account tracking for individuals
COBRA account tracking for individuals

Cons

I would like to see where exactly the employees spent their HSA funds. I think this could help us determine that the employee is correctly using the funds at the correct locations.
I would like to see where exactly the employees spent their FSA funds. I think this could help us determine that the employee is correctly using the funds at the correct locations.
I would like notifications that there are new reports out on WEX's website for those who have used their HSA and FSA accounts.

Most Important Features

Tracking HSA accounts
Tracking FSA accounts
Generating reports

Return on Investment

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

Alternatives Considered

We never really had one place for all of our HSA, FSA and COBRA needs. We used multiple vendors and our employees a variety of vendors and banks they could set up their accounts with. WEX really help simplify and uniforms the whole process and help streamline all HSA, FSA and COBRA processes.

Key Insights

Do you think WEX Benefits delivers good value for the price?

Yes

Are you happy with WEX Benefits's feature set?

Yes

Did WEX Benefits live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of WEX Benefits go as expected?

I wasn't involved with the implementation phase

Would you buy WEX Benefits again?

Yes

Other Software Used

ADP SmartCompliance, Oracle JD Edwards EnterpriseOne, SAP Access Control

Likelihood to Recommend

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.

Comments

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