How it Works for Employees

The diagram summarizes LyfeBank's patent-pending method for combining health benefit contributions from multiple employers. Supported by a robust on-line transactions processing systems, this method benefits individuals with multiple jobs and families with multiple wage-earners. Every LyfeBank enrolled employer can participate.

THE GARCIA FAMILY

Before LyfeBank
The Garcia family does not have employer sponsored healthcare because they do not qualify as full-time for any one of their employers. The father, Juan Garcia has 3 seasonal farm jobs. Off-season he picks up hours as a cook at a local café. His wife Maria works during the school year in the elementary cafeteria. During the summer she works at the local fruit packer. Juan Jr. is 19. During the school year Juan works weekends for the local farm equipment dealer and during the summer he works for the local fruit packer. Their daughter Anita is 17 and works holidays in a clothing store at the local mall. In the summer she also works for the local fruit packer.

FRED & SUSAN BROWN

Before LyfeBank
Fred's employer at the factory was the only source for their family's healthcare benefits, even though Susan was also working 5 days a week. Fred works at a furniture factory as a floor supervisor Monday through Friday. Fred's employer requires employees to pay 20% percent of their health insurance premium plus the listed cost to cover family spouses. Susan works as a waitress at Joe's steak house 3 nights a week, and works at the local garden nursery 2 days a week but does not qualify for healthcare benefits from either of her employers.

BRYAN CHEN

Before LyfeBank
Bryan is 23 years old and works full-time at a big box electronics retailer. Bryan is eligible for healthcare on the company group policy. He just needs to pay $75 a month co-premium on top of the employer $250 monthly contribution for the group program. He doesn't want to pay the $75 so he did not sign up.

MASON HOLLER

Before LyfeBank
Mason is 68 and retired. He has been working part-time at a big box retailer for the last 2 years to keep busy and supplement his income. Mason is on Medicare and needs a supplemental health plan to help with his diabetes but his budget is limited. He works 3 days a week but doesn't qualify for any additional healthcare coverage from his employer.

THE GARCIA FAMILY

With LyfeBank
Juan is collecting healthcare dollars from all three seasonal farm jobs. And the local café is depositing a contribution in to his account for every hour he works. Maria is collecting healthcare dollars from the school she works for and the processor will also pay hourly health benefits. Juan Jr. is receiving contributions from the farm equipment dealer and the fruit packer. Anita is being paid healthcare dollars at the dress store and the fruit packer. This family who still does not have a "full-time" employer now is earning the money they need to purchase a family health insurance policy plus vision and dental coverage.

FRED & SUSAN BROWN

With LyfeBank
Fred's employer at the factory is now contributing to his LyfeBank account. Susan is also collecting contributions from both of her employers and now they have enough money from all of their employers to purchase a family policy and still have money in their account for co-pays and deductibles.

BRYAN CHEN

With LyfeBank
Bryan's employer is now contributing the same $250 pre-tax dollars into his LyfeBank account. Bryan discovered that he could purchase an individual medical insurance policy for just $100, and chose to sign up. Bryan is accumulating $150 in his account every month and is considering buying vision insurance.

MASON HOLLER

With LyfeBank
Mason is receiving an hourly contribution from his employer into his LyfeBank account. Mason is using the money he is earning to purchase a Supplemental Medicare Part D policy.