{"id":26832,"date":"2025-07-21T19:38:08","date_gmt":"2025-07-21T19:38:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/26832\/"},"modified":"2025-07-21T19:38:08","modified_gmt":"2025-07-21T19:38:08","slug":"wex-taps-ai-for-faster-fsa-reimbursements","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/26832\/","title":{"rendered":"WEX Taps AI For Faster FSA Reimbursements"},"content":{"rendered":"

WEX<\/a> has debuted a tool designed to help people get faster reimbursements from their flexible spending accounts (FSAs).<\/p>\n

The artificial intelligence (AI)-powered tool, announced<\/a> Monday (July 21), is designed to reduce busywork by automating steps like checking receipts, pre-filling claim forms and approving eligible claims for reimbursement.<\/p>\n

\u201cToday\u2019s health and benefits teams are doing more with less,\u201d Jennifer Whitmire<\/a>, senior vice president of product for health and benefits at WEX, said in a news release.\u00a0\u201cBy building smarter tools that automate the most frustrating parts of the process, we\u2019re helping our partners offer a faster, more modern experience without adding extra burden to their teams.\u201d<\/p>\n

According to the release, the tool includes document verification that informs consumers in real time when information is missing, as well as smart form completion that pre-fills key fields to cut down on manual errors.<\/p>\n

\u201cThis new claims tool tackles the most common reasons for denials, like missing documentation or ineligible expenses and gives users a more predictable, seamless experience from start to finish,\u201d the release added.<\/p>\n

Research by PYMNTS Intelligence shows the value consumers place on faster reimbursements and refunds.<\/p>\n

For example, the studies have found that 43% of consumers<\/a> who receive reimbursements for business expenses opted for instant payments.<\/p>\n

More recently, the PYMNTS Intelligence\/Ingo Payments<\/a> collaboration \u201cInstant Shift: How Choice, Certainty and Convenience Are Driving Demand for Instant Payments\u201d<\/a> found that 63% of U.S. consumers now expect same-day refunds.<\/p>\n

The research found that instant payments have lost their novelty. In 2017, just 4.1% of nongovernmental disbursements were made instantly, compared to 38% today.<\/p>\n

\u201cPerhaps the most surprising finding<\/a>? Nearly 40% of consumers say they\u2019d rather go to the dentist than wait more than a week to get their money back,\u201d PYMNTS wrote. \u201cThat\u2019s how far consumer expectations have shifted toward convenience. Now, it\u2019s up to the payments infrastructure to adapt and keep up.\u201d<\/p>\n

At one time considered a back-office operation or a minor cost of doing business, the process of providing refunds has become a crucial part of the customer experience. And for many companies, the report added, it\u2019s a battle they could find themselves losing.<\/p>\n

The trend toward instant refunds is being driven by both choice and availability, with 38% of consumers saying they get payments instantly, and with two-thirds of that group choosing that method from multiple options.<\/p>\n

\u201cIn categories like borrowing disbursements \u2014 think short-term loans or credit advances \u2014 that preference jumps even higher, with 33% of recipients selecting instant over slower alternatives, a 38% increase from last year,\u201d PYMNTS wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"WEX has debuted a tool designed to help people get faster reimbursements from their flexible spending accounts (FSAs).…\n","protected":false},"author":2,"featured_media":26833,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,3105,23330,23331,3,3300,74,23332,3301],"class_list":["post-26832","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-digital-transformation","tag-disbursements","tag-fsa","tag-news","tag-pymnts-news","tag-technology","tag-wex","tag-whats-hot"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/26832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=26832"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/26832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/26833"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=26832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=26832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=26832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}