- Saves up to 90% of the costs of issuing payments by check
- Eliminates check fraud, lost checks and stolen checks
- Shortens the payment process and removes the uncertainty of mail
- Improves regulatory compliance, cash control and record keeping
- Enhances customer service & provides competitive advantage
- No waiting for checks to arrive in the mail
- Enables access to benefits when away from home
- No waiting for a check to clear
- Get cash at banks and ATM’s anywhere Visa debit cards are accepted
- Eliminates check cashing fees
- Pay bills online and make purchases anywhere Visa debit cards are accepted
- 24/7 bilingual telephone support
- Online card account access
- Visa Zero Liability protects Cardholders against fraudulent transactions
Workers' Compensation & Disability Insurance Payers
Reduce Payment Costs, Enhance Fraud
Control,
and Improve Customer Service
With workers' compensation costs on the rise and insurance premiums under increasing scrutiny, payer profitability requires a keen focus on cost reduction and risk management without sacrificing quality of service.
Traditionally, workers' compensation indemnity payments have been made using paper checks. Remitting payments by check involves check drafting, envelope stuffing and mailing which is costly and time consuming. Postage costs add up when recurring payments are made to a single claimant. Lost and stolen checks result in further expense for stop payment, reissuance and sometimes fraud mitigation. In addition, the time between authorizing payment and payment availability is long and full of uncertainty.
The Convenient Visa® Benefits Card program dramatically reduces handling costs, eliminates nearly all mailing expenses, lowers the risk of fraud and removes payment status uncertainty by replacing a paper-based check writing process with a secure, reliable and efficient electronic payment system. Switching your indemnity payment processes from paper-checks to the Convenient Visa Benefits Card program will save you up to 90% of the cost of issuing your indemnity payments.
