As we step into a new year, we are excited to reflect on the strides we made in 2023 to elevate your experience with EBC. Our valued partners, employers, and participants are at the forefront of everything we do. This past year has been marked by innovative enhancements and new offerings that are aimed at providing you with more convenience, control, and support.

Mobile App and Online Account Enhancements

We have enhanced the online and mobile experience by providing more self-service opportunities making it easier to access important information.

1. Mobile Pay Availability

Say goodbye to carrying around the physical Benefits Card. Participants who have a Benefits Card can add their card to their digital wallet, including Apple Pay, Samsung Pay, and Google Pay. Using a digital wallet makes paying for eligible benefit account expenses faster, easier, and more secure. It also can be used at locations where contactless payments are required.

2. Card Management Within the EBC's Mobile App

We understand how important it is for participants to have control over their Benefits Card. The mobile app updates made last year introduced robust card management features.

With these updates, participants can now do the following within the app:

• Replace a card if it is lost or stolen. This closes the card immediately and automatically generates a new card. Replacement cards may take up to 10 business days to arrive to the address on file.
• Lock a card if it goes missing (then unlock it when it’s found!), or keep it locked to guard against unexpected purchases.
• Close a card to immediately deactivate it and no longer allow it to be used for future purchases.
• Request additional cards for a spouse, dependent, or other eligible individual who doesn’t currently have one.

This process is much quicker and easier for participants who previously had to send an email or call the EBC team to get the process started.

3. Online Account Enhancements

Both the employer and participant online accounts have been redesigned to be more intuitive and user-friendly. We overhauled the interface to provide a comprehensive view of your account balances, making it easier to track benefits and balances. Navigating through resources has never been easier with quick access to educational materials and helpful tools. Our goal is to empower you with an enriched online experience, making the information you’re looking for more readily available.

HSA Updates

1. New High-Yield Offering

Health savings account (HSA) accountholders have a new way to find value in their HSA. Accountholders have the option to put their cash balance into a high-yield HSA, which offers the option to earn a higher interest on their balance than a traditional HSA. With the high-yield feature, EBC is striving to make the road to financial wellness more accessible to accountholders who want to take advantage of enhanced interest rates and maximize the savings potential of their cash balance.

2. Simplified Account Transfer Experience

Consolidating HSAs is a great way to create a better accountholder experience, help accountholders save money on fees, and increase their savings potential. One of the most convenient ways employers can consolidate their employees’ HSA is by utilizing a bulk transfer, which occurs when employers migrate their employee’s HSA balances from their former custodian to their new one, without needing to process each employees’ transfer one-by-one. This helps employees because they only have to manage one account and debit card, it reduces unnecessary monthly fees, maximizes their interest earnings, and more! Employers benefit from a bulk transfer by providing a better HSA experience, saving time on the transfer process, and receiving personalized support from EBC throughout the process. 

We understand a bulk transfer may not be possible in all situations. That doesn’t mean accountholders should miss out on the benefits of consolidating accounts. We offer a full suite of new online resources and communications, including a dedicated page in their online account. These resources help accountholders easily transfer their account balances to EBC when a bulk transfer is not possible. Dedicating time to developing these resources simplify the HSA transfer experience, which has been a priority for us this year.

New Premium Payment Option for COBRA and Billing Services

Rounding out our 2023 enhancements was the ability for COBRA continuants and special plan members to set-up recurring payments on a credit or debit card without paying additional fees. Previously, credit and debit cards could only be used for one-time payments and a processing fee was applied.

Now, these individuals have the following repayment options:

• Recurring Automated Clearing House (ACH) from a checking or savings account
• Recurring debit/credit card payment
• One-time online ACH payments from a checking or savings account*
• One-time online debit/credit card payment*

*All one-time ACH and debit/credit card payments made through the online account are subject to a processing fee.

Wrapping Up a Remarkable Year

EBC would like to express our gratitude for your unwavering trust and partnership throughout the year. We are thrilled to share the resounding success we achieved together. Your satisfaction is at the core of our mission, and we’re proud to share the impressive feedback we received from our 2023 Client Survey.

Here’s to 2024 and another year of success and growth!