MedRisk, Inc., a claim services and medical management company, has introduced its MPower Card as a new way to issue workers’ compensation indemnity payments.
MedRisk, in association with a bank, provides Visa-branded debit cards to workers’ compensation payers. Claim payers electronically send payment files to MedRisk, which then coordinates with the bank to issue a card to each new claimant and deposit funds. Subsequent claim payments are made by electronically transferring funds to existing cards.
Injured employees can use the card at ATMs, banks, and wherever Visa is accepted. Claimants do not need to have a bank account, nor do they incur check-cashing fees when using the MPower Card. Claimants’ funds are also protected against stolen or lost cards.
MedRisk said the card offers a variety of benefits to insurance companies, third-party administrators, self-insured employers, and state funds. They reduce the costs associated with paying by check, eliminate check fraud, improve cash control, and enhance customer service and claimant satisfaction. Services include client-branded cards, a customer support call center, and web site.
More information is available at www.medrisknet.com.
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