Employer Services
Health Reimbursement Arrangement Debit Card

As an alternative to paper claims filing, Cornerstone has partnered with MBI/Metavante to issue debit cards to simplify the process of paying for eligible expenses under pre-tax benefit accounts. Employees can use the card at qualifying merchant locations wherever MasterCard^® or Visa^® is accepted – from physician and dental offices to pharmacies and vision service locations. Allowing employees to use the card at the point of sale reduces the burden of having to pay money out-of-pocket, completing a claim form and waiting
for a reimbursement.

FAQ's

1. Who is MBI/Metavante?
2. How does my company benefit by providing employees the Cornerstone
   Benefits Card?
3. Does the card work like a regular MasterCard^® or Visa^® ? (i.e. Will my employees be able to use it at gas stations and other ineligible locations?)
4. Are there any legal/financial risks to implementing the debit card?
5. What type of accounts can the card be used for?
6. How can employees manage the funds in their account?
7. How will I educate my employees about the MBI benefits card?
8. Who else is using the debit-card technology?

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2. How does my company benefit by providing employees the Cornerstone Benefits Card?
The Cornerstone Benefits Card is a great addition to any benefits package because it saves you money. By providing the card, employers realize, on average, a 25% increase in participation in pre-tax benefit accounts and a 28% increase in per-employee contributions. These increases can significantly impact your bottom line due to the savings you incur in FICA taxes. In addition, the card adds value to your benefit package because employees will love the time, savings and convenience that it offers.

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3. Does the card work like a regular MasterCard^® or Visa^® ? (i.e. Will my employees be able to use it at gas stations and other ineligible locations?)
The Cornerstone Benefits Card can only be used at eligible FSA locations. In addition, the card is used in conjunction with Cornerstone’s software platform that reviews all transactions electronically to be sure that they pass a set of eligibility rules established by your plan.

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4. Are there any legal/financial risks to implementing the debit card?
No, IRS Revenue Ruling 2003-43 virtually eliminated any risk to the employer by placing responsibility on the employee.

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5. What type of accounts can the card be used for?
The Cornerstone Benefits Card can be used for Section 132 Transit Plans, Dependent Care Accounts, Section 105 Defined Benefit Accounts, and Qualified Tuition Reimbursement Accounts. Also, your employees can access all of these accounts simultaneously on
one card.

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6. How can employees manage the funds in their account?
Employees will have 24x7 access to their account information online. A cardholder can logon to our website and view their account balances for all types of accounts, status of claims (POS/manual), frequently asked questions, the ability to report a card lost/stolen, an option to email statements to a cardholder’s personal account and transaction history for three years.

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7. How will I educate my employees about the MBI benefits card?
In most cases, employers can use their open enrollment meetings to teach employees about their benefits card. Cornerstone can help you educate cardholders and provide communication pieces that explain how to use the card.

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8. Who else is using the debit-card technology?
Currently, MBI has approximately 1.8 million cardholders covering 19,000 employers nationwide. A few examples of companies who have the MBI Card are: Staples^® , Walt Disney^®, Ann Taylor, Citigroup^® , Krispy Kreme^®, Sprint^®, Lands' End, SC Johnson^®, eBay^®, Con Agra Foods^®, Dow Jones^®, Monster.com^®, MasterCard^® and British Airways.

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