Great-West Healthcare, a Greenwood Village, Colo., employee benefits provider, announced a pilot program Tuesday with E-Duction to offer a payroll deduction credit card for employers with consumer-driven or other high-deductible health-care plans.
E-Duction is a Blue Bell, Pa., provider of payroll deduction technology.
The Clear Card, which is to be processed as other credit, debit, or check cards are, helps plan members pay out-of-pocket health-care expenses.
The pilot program will be rolled out this month to clients nationwide. Members may enroll in the card program through a dedicated Web site or a toll-free number, and they can make card purchases anywhere that MasterCard is accepted. The employee then pays for purchases in equal installments through automatic payroll deductions.
For medical expenses higher than $199, Clear Card members receive interest-free financing for six months. Medical expenses below this threshold and nonmedical expenses are paid interest-free through automatic payroll deduction over two months.
The Clear Card offers a credit line of up to 4% of the member’s annual base salary and can be used with any Great-West consumer-driven health-care plan.
