A Family with LyfeBank

With LyfeBank you collect health benefit dollars in your LyfeVault® account. Our patent-pending account pooling feature allows you to accept contributions from multiple personal and family employers. LyfeBank works with each of your employers to secure the maximum contribution. It is up to you how to spend the money accumulated in your account.

LyfeBank is there to assist you with purchasing affordable health options. Our health insurance partners can help you select the individual or family health insurance policy that best meets your needs and budget.

Many people will earn more than they spend each month. The surplus continues to accumulate in your LyfeVault® account year after year. If you leave your employer your surplus healthcare money follows you until the funds are spent.

If your healthcare insurance policy costs exceed your account balance you can authorize LyfeVault® to transfer additional funds from your personal checking account or other authorized source to pay the difference needed to pay your premium in full.

A parent, grandparent, friend, charity, or state government program can also contribute whenever account funds fall short.

See Employee Examples

"Family" Definition: Money in your LyfeVault® can be used to support the healthcare needs of your entire family. What counts as a family? Anyone you can claim as a dependent on your federal tax return qualifies as a family member. To meet the requirements for a family member they must be a "qualifying child" or "qualifying relative."

Examples: Children living at home under the age of 19 or up to 24 if still in school (or any age if permanently and totally disabled). Relatives (parents, brothers, sisters, other blood relatives) living with you and whom you support financially.

The LyfeBank Employee Process

Your employer registers with LyfeBank and you agree upon a contribution amount.
We invite you to set up an on-line LyfeBank account through email or by phone.
Each month, your employer deposits your healthcare contributions into a trust account at a federally chartered bank.
LyfeBank electronically pays your premiums each month with money from your account. Any remaining funds can be used for deductibles, co-pays, over-the-counter, prescription medications and other qualified medical expenses. The LyfeVault VISA® debit card makes purchasing health services easy. Just swipe your card.
If your account does not have enough funds to cover your insurance premium, LyfeBank can automatically transfer the funds needed to avoid a lapse in benefits.
Your account balance and activity is available 24/7 online at lyfebank.com

Note: Under federal law, LyfeVault® account funds can ONLY be used for qualified medical expenses.

LyfeVault® is Different

My wife and I both work. Can both our employers pay into to our LyfeVault account to cover our healthcare costs?
Yes

I have two jobs. Can both my employers contribute to my LyfeVault account?
Yes

I work in different states. Does LyfeVault still work?
Yes

I was just laid off. Can I keep the money I have earned from my employer and saved in my LyfeVault account as well as my insurance policy?
Yes

My daughter just had an operation. The 20% co-pay is $3400. Can I use the money in my LyfeVault account contributed by my wife's employers to pay for it?
Yes

Can I use my LyfeVault money for just a visit to the dentist?
Yes

I was paying $125 a month as a co-premium for my employer's group policy and another $400 to cover my husband. Now using your LyfeVault and the individual/family policy you got us, just the money my employer pays into my Lyfevault account covers the whole policy. No out-of-pocket cost to us. You guys are good!

Yes. Thank you!

Call us today at 360-466-9100 or Contact Us to see how we can help you.