The Medical Mutual Employee Care Card

04-22-2020

In connection with the activation of IRS Section 139, Medical Mutual is excited to offer a new option that allows employers to provide financial assistance to their employees during this difficult time. This new option, Employee Care Card, is a stand-alone product which is available now.

Below is an overview of this offering:

  • IRS Section 139:
    • National disaster declaration trigger with COVID-19 pandemic
    • Tax-free disaster relief payments to employees
  • Employee Care Card
    • New temporary stand-alone product option
    • Eligible employees:  active, furloughed, terminated
    • One-time deposit ($250 minimum)
      • Must be used within 90 days of deposit
      • Unspent balances returned to the employer
    • Employers control how dollars can be used, as well as the amounts given to employees; examples include:
      • Groceries
      • Pharmacy
      • Utilities
      • Healthcare
      • Education and Child Care
      • Clothing
    • No PEPM fee; cost is a $5 one-time per card issuance pass through fee
    • Medical Mutual will be administering this product in partnership with our CDH vendor, Alegeus
    • Available to all size clients and all funding types

Attached is a flyer to provide additional details but please do not hesitate to contact me if you have questions or wish to discuss further.

 

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