Under the agreement, Genpass will process debit card transactions for MBIs full product line, including Flexible Spending Accounts (FSAs), Health Reimbursement Accounts (HRAs), Health Savings Accounts (HSAs), Dependent Care Accounts (DCAs), Transit / Parking Accounts, and related products. These accounts are all employee benefit accounts whereby the employee may reserve pre-tax dollars for qualifying expenses, depending upon the product, including medical, child care, transit costs, etc. MBIs solutions enable employees to electronically access funds in their FSA, HRA, HSA, Transit/Parking Accounts and Dependent Care Accounts with a single, nationally accepted debit card. Through MBIs clients, including leading third party administrators (TPAs) and health plans, MBI serves more than 16,000 employers and their employees.
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