The LyfeVault® VISA® Debit Card a new tool for consumers to control their healthcare decisions

LyfeBank is pleased to announce the rollout and implemenation of the LyfeVault® VISA® Debit card to all of LyfeBank’s eligible customers.  The LyfeVault VISA Debit card is a “smart card” for LyfeBank customers.  It has intelligence built in to define which of your purchases at the retail and medical provider outlets are approved medical expenses.  If the product or service is an approved medical expense LyfeBank customers get the benefit of making their purchases with pre-tax contributions.
 
The LyfeVault VISA debit cards are loaded with fully vested employer health benefit contributions.  LyfeBank customers can then choose when and where they want to spend their eligible funds. How the funds are used on medically approved items is at the direction of the LyfeBank member. The LyfeBank program is not a use it or loose it program.  Funds can be banked for future use or spent on demand as needed.  Your LyfeVault VISA Debit card is owned by you the member, so it’s portable job to job.

Michele Payton, Director of Operations for LyfeBank says “customers love the convenience of the VISA debit card to purchase prescriptions, over the counter medications or co-pays at their medical providers.”

The LyfeVault VISA Debit card can be used locally or where ever in the nation your medical needs take place.  
LyfeBank is delighted to bring this technology and service to it’s growing customer base.

About LyfeBank and LyfeVault®:
Our mission is to create greater access to employer provided healthcare benefits for working people. We pursue that vision through LyfeBank, which collects employer funds and directs them to employee LyfeVault accounts. It's a powerful new approach for employers to finance healthcare benefits for their employees. Employers set a healthcare benefit budget and determine how to divide the budget among employees. LyfeBank electronically deposits employer contributions into each employee’s LyfeVault account. Employees can use their accumulated account funds to purchase an individual or family insurance policy of their choice, and pay for other qualified medical expenses. LyfeBank’s patent-pending benefits-pooling functionality enables employees to combine funds from multiple employers, thus increasing the healthcare purchasing power of workers with multiple jobs and families with multiple wage earners. Employers shed the burden of selecting, renewing, and managing medical insurance plans and are relieved of COBRA or ERISA insurance liability. To learn more about LyfeBank and LyfeVault, visit www.LyfeBank.com.