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Update by user May 07, 2018

After talking to the Better Business Bureau (BBB), Benefit Wallet promised to waive the $25 fee. Several weeks later, they haven't waived the fee. Do they lie to the BBB as shamelessly as to their customers, or is it just extreme incompetence?

Original review posted by user Apr 04, 2018

Benefit Wallet (BW) mislabeled a return of an incorrect distribution to my Health Savings Account (HSA), clearly marked as such. They are offering no solution to the problem before the deadline for presenting my income taxes.

Also, BW mailed me a Form 5498-SA for 2017 that erroneously states that the total contributions to my FSA during 2017 amounted to $3,226.85, less than the maximum allowable of, in my case, $4,500. Its website offers no useful guidance, and a rude customer service rep confirmed on March 30 the mistaken figure. I therefore made a deposit for the missing $1,273.15.

I now have to reverse this erroneous deposit; BW informs me that it will charge me $25 for the privilege. So BW sent me false information, confirmed it on the phone, and charges me extra as a consequence of its incompetence.

Product or Service Mentioned: Benefitwallet Health Savings Account.

Reason of review: Damaged or defective.

Monetary Loss: $785.

Preferred solution: Full refund.

BenefitWallet Pros: Should be shut down go out of business.

BenefitWallet Cons: Overall business practice is morally and legally corrupt, Unresponsive and non-existent service and follow thru-up, Website login design is pathetic.

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ajsola
#1520115

Alejandro again. Benefit Wallet kept its promise and refunded the $25 fee in early May. It took some time and effort, but kudos to Benefit Wallet for doing the right thing AND letting me know about it.

Anonymous
#1714462
@ajsola

Fix this sham "business."

Anonymous
#1729577
@Anonymous

Benefit Wallet. Hhmmff.

These people are terrible and I am stuck with them unless I change jobs! Sure, you are legally allowed to change HSA accounts, but your employer usually only matches, if you use their choice in an HSA. Also, there is simply very little information that I can find on the internet for how to even switch to a different HSA. Meanwhile, I have no access to my HSA debit card and it's been jumping through hoops and going in circles for more than a year now with no debit card because I had the audacity to change my residence THREE YEARS AGO!

They have made me provide all sorts of proof, notarized forms, multiple phone calls, verifying information, etc. It took forever to get online access even. I only got that a few weeks ago. I think I partly have that straight, but now every single time I want to sign on to it, I have to call them and get a security code because it doesn't recognize my device.

It's the SAME device every time, same browser, same house, same person! It's a stationary desktop, not even moving. There is just no excuse. The website is down about one in three times I sign on.

Same when you call them. Their computers are having issues, every single time I call (according to them). Now the game is that they "have my correct address and they are mailing the card, but it takes 10 business days to arrive'. So, I call after 10 days and they say they "mailed it out today" apparently, that 10 days to process meant 10 days to process within their business, not 10 days to come from the card issuer like with any other card.

Also, after all this, they "are glad to waive the fee for the card". What fee? that is the card to access my account that you never sent me, not a replacement! Meanwhile, I cannot see a doctor unless I want to pay out of pocket for any medical care and then submit for reimbursement.

I am afraid to go that route. If they give me this much problem just getting my debit card, what's going to happen trying to get reimbursement money from them once I have incurred a medical bill? I am now just physically tired because I probably needed to see a doctor two years ago and have let this go for so long I just plain don't have any energy to sit on the phone all day and make these calls any more. I have lab orders from a doctor that I cannot get done and I've had to cancel my follow up several times waiting to get this straightened out.

My share of those labs could be more than a thousand dollars due to the high deductible plan I have in order to have an HSA, so I am stuck. All I want is to access what I have already paid for. I agree they need to close their doors or there needs to be a class action lawsuit filed. Can we do that, anyone?

Are any of the other HSAs better? Who even regulates these people. Who do you call? Who has oversight over laws and regulations regarding these HSA businesses?

I can't find anything on the internet accept some flowery praise for how great these HSAs are. Yes, maybe they are great when they work, but if you can't get access to the HSA part, then your medical insurance is completely worthless, unless you have a spare couple thousand dollars laying around that you may or may not get back on the whim of your HSA account holder.