Is LyfeBank considered a health insurance provider?
No, LyfeBank is not a health insurance provider. We provide an innovative system for financing the purchase of health insurance and other medically approved services. Funds are contributed pre-tax to employee LyfeVault accounts and the employees choose how to spend the money (with the only restriction being that the funds may only be used to help cover qualified medical expenses). Funds not spent at the end of the year carry forward and the money remaining in an employee’s LyfeVault account at the time he/she stops working for a contributing employer remains accessible to the employee until completely spent.
Related Questions
- When scheduling an appointment should I tell the providers office that I have the Worcester Academy Student Health Insurance Plan?
- How does a Physician Assistant become credentialled provider with a health insurance company?
- Will the fact that I’ve taken the EarlyCDT–Lung be reported to my health insurance provider?
