TempoPay encourages employees to access care when they need it and pay for it on their terms. Their solution provides an extra layer of financial security to pay for out-of-pocket costs and unexpected medical bills. TempoPay can be activated by employers at any time during the year, immediately granting employees access to a line of credit that enables them to pay for the care they need without worrying about financial burden, resulting in happier, healthier and more productive employees. 

We are excited to announce TempoPay as our Partner of the Week, where we highlight one of our unique PlanSource Marketplace Partners and the value they bring to the benefits industry. We recently sat down to discuss their unique employee benefits and how they support financial wellness within the benefits industry. 

TempoPay is the only employee benefit program to make healthcare more accessible and affordable immediately– without interest, fees, or a credit check. Whether in the emergency room at 2 AM or six months after signing up, employees receive the financial security and dignity to pay for care when needed. With a TempoPay account, employees experience lower stress knowing that they take care of their health and protect savings from unmanageable repayment plans or costly medical debt. TempoPay is available to all employees, regardless of financial status or health plan.

TempoPay helps employers maximize internal resources and provides access to a flexible financial wellness program that all employees can access and benefit from. The integration requires no extra administration or additional burden on HR or Payroll teams.

Sophisticated employers who are seeking creative, impactful solutions to address rising healthcare costs and health equity will benefit from TempoPay. It can be offered as a stand-alone benefit and it is an excellent complement to existing HSA, FSA, or other Lifestyle Programs.

• Employees receive immediate access to healthcare funds at no cost to them, ever. No interest, no fees, no downpayment. Repayment plans are set on the employee’s own terms at a cadence that works for them.
• Employers bear no risk. TempoPay is very serious about addressing gaps in health equity and assumes the risk for unpaid balances.
• TempoPay is a year-round solution, not just reserved for open enrollment. Employers who want to address health care costs now can activate TempoPay anytime during the year.
• Unexpected medical expenses don’t wait, and employees can get access to critically needed financial support right away.

Various employee payment accounts have been around for decades, but are historically underutilized and underfunded. Employees suffering acute financial stress are forgoing medical care for themselves and their families to meet the costs of daily living, and this is not only unique to lower-income employees. 64% of US consumers making over $100,000 annually reported living paycheck to paycheck last year.

An employee’s financial well-being is the strongest predictor of their daily stress level, regardless of income. Employees who are stressed about finances also report that it impacts productivity and attendance, while also increasing their likelihood of looking for a new job. They need a new solution now, and they’re looking to their employers for support.

The old benefits playbook just doesn’t work anymore. TempoPay’s founding team has over 60 years of combined experience in healthcare, finance, and employee benefits; they’ve seen what drives engagement and what doesn’t. That’s why they are looking at the big picture when it comes to addressing employee benefits and healthcare costs. TempoPay understands that in order to make a real impact, they must provide a truly employee-centric experience that addresses all aspects of employee wellbeing.

To learn more about TempoPay and see examples of unique benefit providers out there, check out the PlanSource Partner Marketplace.