What are the advantages of using LyfeBank over other programs?
LyfeBank provides many benefits to you as an employer, including: • You control healthcare costs – set what you can afford for contributions (amount not tied to premium costs). • Easily predict and manage your yearly health benefit costs. • No group plan premium obligations. • No hassle management, just send a single payment each month. • No setting up benefit plans with insurance brokers. • No policy selection. • No group insurance policy enrollment. • No insurance-related COBRA. • No health benefit tripwire between part-time and full-time employees.Back to top Q: What is a LyfeVault®? A: A LyfeVault is the account where an individual employee accumulates all of their health program funds. These include their pre-tax employer health program contributions, and if offered their own pre-tax wage withholdings from an employer sponsored 125 Premium Only Plan. A LyfeVault enables employees to collect healthcare contributions from every LyfeBank enrolled employer for whom they work and then
