Although summer is just getting into full swing, it’s time to start thinking about Open Enrollment. For many companies, Open Enrollment kicks off in late fall, but brokers should be preparing now.
Mainly, now’s the time to evaluate your clients’ current offerings and find opportunities to enhance them with new additions for the upcoming year. We know it can be challenging to continuously provide more options to clients who are limited on the time and resources to dive deep into all of the options out there. That’s why it’s crucial to have a few key new offerings ready to present to your client that can bring real value to their employees -- value that important can’t be ignored.
Clarity is excited to announce the launch of two new offerings that can significantly impact your clients by making it easier than ever for them to access and utilize their benefits. This will not only help increase enrollment and engagement with their benefits, but it will also allow your clients to get in on the ground floor of revolutionary offerings.
Let’s take a closer look at two new offerings you can present to your clients in preparation for Open Enrollment.
Mobile Pay
What is it?
Mobile Pay is a secure and easy-to-use platform that individuals can use to pay for expenses tied to their benefit accounts. It provides a contactless option for in-store purchases or quick digital wallet option for online purchases.
How does it work?
Mobile Pay links to an individual’s Clarity Benefit Card via a secure platform on a mobile app. It is compatible with Apple Pay, Google Pay and Samsung Pay to seamlessly integrate with their existing digital wallet to pay for eligible expenses, such as an FSA purchase.
Why this is an important addition
Mobile Pay gives employees access to a secure and convenient payment option for eligible benefit account purchases. This will likely lead to increased utilization of benefit accounts since tap to pay technology is more secure and hygienic than traditional card purchases. It also eliminates the hassle of remembering to bring their Clarity Benefits Card with them to use their funds.
Personal Wallet
What is it?
Personal Wallet gives individuals access to their reimbursement dollars via a separate account linked to their Clarity Benefit Card. This allows immediate access to funds as soon as reimbursement is processed, rather than waiting for a check to arrive in the mail or a deposit to be made into a bank account, both of which can take days.
How does it work?
With Personal Wallet, employees get their reimbursement from non-HSA benefit accounts directly placed into a dedicated account. From there, they can use their Clarity Benefit Card to pull funds from that account to be used however they choose, even for non-eligible purchases.
Why this is an important addition
Personal Wallet allows for faster reimbursement since there is no mailing or processing period. It also is a more secure option because, unlike direct deposit reimbursement, there is no need for sensitive bank information. This, paired with the convenience of a single card for all accounts, will likely increase participation in and engagement with benefits.
Preparing for Open Enrollment with Clarity Benefit Solutions
The demand for contactless payment skyrocketed during the COVID-19 pandemic, and it’s not going away any time soon. By offering technology-focused ways for your clients’ employees to utilize and access their benefits accounts, you ensure they are prepared for whatever life throws their way -- in the way that works best for them.
Contact us today to learn more about adding Mobile Pay and Personal Wallet to your portfolio.
