Mellon Financial Corp. in Pittsburgh and MBI said Monday that they plan to offer health plans and third-party administrators a Mellon health savings account combined with the MBI Benefits Card.
MBI, a Waltham, Mass., employee benefits software company that says it offers the first and most widely used benefits debit card, and Mellon are to provide a one-stop source for health plans and administrators that want to offer a full health-care product lineup.
Mellon and MBI also plan to process, track, and transfer payments for HSAs. In addition, health plans, administrators, and employers can offer employees easy access to their HSA funds with the MBI Benefits Card.
This card helps employers and employees enjoy maximum tax benefits while also bypassing time-consuming paper-based cash reimbursement.
