Emergency Medical Loan Account
- Participant leverages an interest- and tax-free no-limit loan to help pay for healthcare expenses, when FSA or HSA funds depleted.
- Expenses include: out of pocket medical, dental and vision expenses.
- No interest, no fees, and no credit check and spouses and dependents are covered, too!
- Borrowed funds from this account are not taxable to the employee.
- Restricted to medical, dental and vision — but does not require an emergency or triggering event to be covered.
- Improves financial & mental wellbeing.
- Improves recruiting, retention and engagement.
- Employer sets eligibility requirements.