WEX Benefits

Score4.4 out of 10

16 Reviews and Ratings

Community insights

TrustRadius Insights for WEX Benefits are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Business Problems Solved

WEX Health is a platform that offers users a convenient way to sign up for and manage their HSA and FSA accounts. With the software, users can easily track the billing of COBRA for former employees, allowing them to run reports and monitor individual account spending. This helps ensure compliance with government regulations and facilitates necessary communications. Additionally, WEX Health accurately manages funding for FSAs and HSAs, enabling employees to take control of their own accounts. Users appreciate the platform's ability to handle various employee benefits, including Health Savings Accounts and commuter benefit accounts. They can set up accounts online, activate debit cards, view statements, and make investment decisions.

Despite occasional claim denials, WEX Health has been praised for frequently reversing them after substantial effort and evidence is provided. Users have also expressed satisfaction with the professionalism and empathy of WEX staff, particularly the Cobra team. The WEX Flex benefit phone app is highly regarded by users in the industry. However, some users have found the FSA benefits processing to be cumbersome and express dissatisfaction with the interpretation of IRS regulations. They have also voiced disappointment when their FSA setup prevents them from accessing reasonably priced healthcare options, as difficulties in reversing the setup may result in loss of funds taken from earnings. Overall, WEX Health serves as a valuable tool for managing health and commuter benefits, with users experiencing both positive outcomes and areas for improvement in their interactions with the platform.

Reviews

10 Reviews

WEX will not leave your employees out on a limb at audit time

Rating: 7 out of 10

Incentivized

December 10, 2024

Use Cases and Deployment Scope

We used WEX to administer our flexible and dependent care spending programs. Their platform is what helped us make the choice to go with them originally. We considered using them for other product offerings but chose to stay with the spending accounts only until we had a better feel for the real capability of the company.

Pros

Their platform is very user friendly
The reporting capabilities on the business side is robust
The substantiation process is thorough.

Cons

While the substantiation process is thorough, they might take it too far at times.
Employees complain that they are asked to submit receipts for the same medication every month and that the system doesn't learn what has been approved in the past.

Likelihood to Recommend

If you are looking for a company that will be thorough in the substantiation process and will have the employee ready in the event they are audited, WEX is perfect. If you employees have a hard tolerating being asked multiple times to substantiate similar or same claims, this company is likely not for you.

Verified User

Director in Human Resources (501-1000 employees)

Vetted Review

In my opinion, Do Not use WEX Benefits under any circumstance

Rating: 1 out of 10

November 27, 2024

Use Cases and Deployment Scope

WEX Benefits is the COBRA provider for my employer. We started paying for COBRA benefits through WEX Benefits once my employment contract ended.

Pros

Send lots of documents through the postal mail encouraging COBRA signup

Cons

Canceled COBRA coverage with no advance notice - no communications to us whatsoever
Took over $5500 of our family cash for two months of coverage and then canceled
In my experience, zero communication regarding billing other than small, generic email confirmation of payments

Likelihood to Recommend

In my opinion, this company has no business being a COBRA provider. We will be filing formal complaints with appropriate government agencies to ensure that this corrupt company stops benefiting receiving cash from families and from our failed system of healthcare. I think all of the executives at WEX Benefits should be ashamed of their, in my opinion, shoddy business practices.

Verified User

Team Lead in Engineering (51-200 employees)

Vetted Review

1 year of experience

Wex Benefits is a terrible company

Rating: 1 out of 10

Incentivized

December 14, 2023

Use Cases and Deployment Scope

Wex is the FSA administrator. The entire process is cumbersome, confusing and difficult. There is little to no support for actual employees. It seem intentionally difficult to use in order to frustrate people into not utilizing their rightful benefits. For example, I received an undated letter as follows:

"The indicated documentation or check has not been processed due to the following reason(s):

One or more of the plan options were either not indicated or were unclear on your form.

If your election paperwork or payment was sent after the designated grace period ended, your election was denied or your coverage terminated."

No date. No explanation of what was missing. No instructions on what to do to fix the unknown problem. This is a perfect example of how crappy Wex Health is. I would never, ever recommend them to anyone.

Cons

Improve the website. It is absolutely horrible to navigate with no support
Improve communication, provide clear and proper instruction on what is necessary to file claims, reviews and other requests
Switch your entire company's focus from HR/administrators to actual company employees.

Likelihood to Recommend

This would be a zero but it is not allowed. Wex Benefits does absolutely nothing well. I do not recommend them to anyone for any reason. The company deserves to go out of business for ruining the quality of life of their clients' employees.

Verified User

Vice-President in Sales (1001-5000 employees)

Vetted Review

1 year of experience

Simple Service Underdelivers

Rating: 1 out of 10

Incentivized

November 16, 2023

Use Cases and Deployment Scope

WEX Benefits helps (alongside bswift and internal departments) administer commuter and FSA benefits, including a debit card and customer support.

Pros

Single card for commuter and health
Online customer service
Most necessary information available online

Cons

In my experience, WEX has an inability to connect with other entities on the supply chain (bswift, internal benefits department).
Slow support request turnaround (3-5 business days).
Makes FSA substantiation unnecessarily difficult.
Even when there’s a single itemized receipt for all charges, every charge must be substantiated with a separate upload.
Even though doing so would satisfy IRS guidelines, WEX won’t accept third party explanations of services as FSA substantiation.

Likelihood to Recommend

WEX offers basic, mostly functional service. However, when there are discrepancies along the supply chain, WEX can do nothing to help the customer. Moreover, for basic tasks, using WEX is unnecessarily difficult. There is no guidance on FSA substantiation, yet WEX imposes stricter requirements than the IRS. For such a simple offering, WEX should get it right, but doesn't.

Verified User

Team Lead in Corporate (10,001+ employees)

Vetted Review

2 years of experience

Poor Service/Poor Results

Rating: 1 out of 10

September 5, 2023

Use Cases and Deployment Scope

They are supposed to handle our FSA benefits processing. However, in my opinion, they do so poorly. I find their processes are cumbersome. In my opinion, they have a poor interpretation of IRS regulations. In my experience, they FREQUENTLY deny claims on the thinnest of reasons and end up reversing their denials after large amounts of effort and evidence is provided. Would not recommend. Find another provider.

Pros

In my opinion, poor application of IRS rules
In my experience, frequent denial of coverage to be later reversed
In my experience, poor complain processing rules
need PAPER checks to be sent if you need to reimburse them. PAPER! They don't accept credit cards. A credit card processing company that doesn't accept credit cards.

Cons

support
policies
claim approval
complaint processing
clear escalation paths
be respectful to your customers

Likelihood to Recommend

Would not recommend. Find another provider.

Verified User

Manager in Information Technology (201-500 employees)

Vetted Review

2 years of experience

Gamification of my wages

Rating: 1 out of 10

May 22, 2023

Use Cases and Deployment Scope

In my experience, it was disappointing. My company HR is equally to blame as they had me sign up for FSA while thinking I could get reasonably priced healthcare through them. My wife’s benefits turned out to be cheaper and I was locked into FSA with difficulty finding a way to now use these funds. WEX tells me too late to reverse this setup. Will likely lose the money taken from my earnings.

Pros

Nothing I can see

Cons

Inflexible administration
New user at high risk

Likelihood to Recommend

If you have a healthcare plan that is predictable it may be useful. If you don’t know your annual expenses or situation changes you will lose earnings. Gamification of our wages is not beneficial to anyone but the company managing the funds.

Verified User

Consultant in Product Management (51-200 employees)

Vetted Review

1 year of experience

WEX Health - So helpful!

Rating: 9 out of 10

Incentivized

May 13, 2022

Use Cases and Deployment Scope

We use WEX Health for our FSA, HSA, and COBRA administration. WEX Health helps us accurately manage funding for FSAs and HSAs, and allows our employees to manage their own accounts. WEX Health also helps us manage all the necessary communications for COBRA administration while keeping us compliant with government rules and regulations.

Pros

Compliance
Self-Service for Employees
Ease of Administration

Cons

The employee's options to upload receipts seem difficult for some.

Likelihood to Recommend

We are a mid-size organization with about 175 employees. WEX Health works well for us. It is easy to use (you don't have to be super tech savvy). It allows a good amount of visibility for FSAs and COBRA communications. We have a file feed connected to WEX Health from our HRIS, so it really helps us stay compliant automatically, with General Notices and Specific Rights Notices when we have new hires or terms.

Verified User

Manager in Human Resources (51-200 employees)

Vetted Review

2 years of experience

Great core products, poor IT/website and support experiences

Rating: 5 out of 10

Incentivized

May 13, 2022

Use Cases and Deployment Scope

WEX is our administrator of several employee benefits, including Health Savings Accounts, commuter benefit accounts, an COBRA. As a user of WEX, I set up my account online, set up my Health Savings Account and commuter benefits account after open enrollment, received and activated a debit card to use for my Health Savings Account and commuter benefits account, viewed account statements, and made investment decisions for my HSA.

Pros

HSA investment options
1 Debit card for multiple accounts (HSA and commuter benefits accounts)
Educational content

Cons

Customer support
Login issues
HSA financial accounting features

Likelihood to Recommend

As a user of WEX who has a Health Savings Account and who used to have a commuter benefits account, I can say that using the accounts is easy. They give you a single debit card for both accounts and it automatically knows (based on the vendor) if a transaction should come out of your HSA or commuter benefits account. However, general IT issues seem to have plagued my experience using WEX. For example, they seem to require you to make a new password every few months, which made even just logging in a nightmare (I don't like to save passwords for financial accounts to my browser). Their support team is also not helpful, as getting the information I needed to complete my taxes for my HSA proved to be very difficult.

Verified User

Contributor in Information Technology (201-500 employees)

Vetted Review

4 years of experience

WEX is a cut above the rest

Rating: 10 out of 10

Incentivized

May 12, 2022

Use Cases and Deployment Scope

WEX Health (formerly Evolution1) provided the organization with Flex benefit management and Cobra. For employees the WEX Flex benefit phone app was one of the best I have seen for this industry. I personally have been on the phone with their staff and was thoroughly impressed with their professionalism and empathy. The Cobra team at WEX is also easy to work with and professional.

Pros

Great technology phone app for members.
Great professional staff for the Flex benefits
Very good interface for Cobra.

Cons

Communication between Flex and Cobra team could use a little improvement
Initial roll out of member cards could be delivered earlier.

Likelihood to Recommend

WEX Health (formerly Evolution1) is a great organization for organizations that offer Flexible benefits. The phone app is one of the best I have seen and would be great to roll out to those submitting receipts. WEX is a good organization that works well with the business office for ease of providing funding and record keeping.

Verified User

C-Level Executive in Finance and Accounting (501-1000 employees)

Vetted Review

2 years of experience

WEX Health

Rating: 7 out of 10

Incentivized

May 12, 2022

Use Cases and Deployment Scope

We use WEX Health for our employees HSA, FSA and COBRA accounts and tracking. It is a great tool for our employees to easily sign up and manage their HSA and FSA accounts. We also use it to track the billing of COBRA for our former employees. We run report off of it and it helps us track how much employees have spent out of their own individual accounts.

Pros

HSA account tracking for individuals
FSA account tracking for individuals
COBRA account tracking for individuals

Cons

I would like to see where exactly the employees spent their HSA funds. I think this could help us determine that the employee is correctly using the funds at the correct locations.
I would like to see where exactly the employees spent their FSA funds. I think this could help us determine that the employee is correctly using the funds at the correct locations.
I would like notifications that there are new reports out on WEX's website for those who have used their HSA and FSA accounts.

Likelihood to Recommend

It is well suited to help us see exactly which employee and which company the employee is with and how much they employee spent. I really like the reports that it generates and the detail it gives. However I would like to see more details. It would be nice to see the exact date the funds were withdrawn and where the funds were spent. I think this could help us determine that the employee is spending the funds at correct locations and help us when we do our reconciliations of these accounts.

Verified User

Administrator in Finance and Accounting (501-1000 employees)

Vetted Review

2 years of experience