PayPal Benefit Update

Author: Shannon Clark

Having extra help to assist you and your family is always a plus. What’s even better is if all you have to do is follow a few simple steps to get the assistance. 

PayPal’s benefit is enhanced, allowing you to focus on what matters, such as healthcare and wellness. 

This article will cover what PayPal benefits are, the changes made, requirements, and how to sign up.

What are PayPal Benefits?

Consider PayPal’s benefits to be a soft cushion on which to land when things get tough. PayPal’s benefits assist you, your healthcare, your finances, and those of your family.

What is new With PayPal Benefits?

• Prescription drug plan 

While CVS Caremark will remain PayPal’s primary pharmacy provider for people enrolled in the UCH medical plan. PayPal is transitioning to a standard formulary. That means that their benefits will no longer cover certain prescription drugs, but they will offer you an alternative that may cost less money. 

However, if your doctor prescribes a medication that is not on the standard formulary but is clinically necessary, your healthcare provider can request authorization from CVS.

It is important to note that with the prescription drug changes, if you fill a brand name prescription that isn’t clinically necessary when a generic brand is available, PayPal will charge you the difference. Visit Caremark’s website or download the formulary to see what prescription drugs PayPal covers.

• Fertility and adoption plan

Participants in the UCH medical plan have access to Progyny fertility benefits. PayPal also provides adoption and surrogacy benefits. Progyny now offers up to three Smart Cycles bundles that include diagnostic testing. When you use PayPal’s adoption and surrogacy assistance reimbursement policy to adopt a child or surrogate, you can be reimbursed up to $25000 per child.

• Wellness plan

Because everyone’s needs are different, PayPal partnered with Calm to help you sleep better, reduce anxiety, and reduce stress. PayPal benefits now provide you and your family with unlimited access to Calm.

• meQuilibrum and Real Appeal

Due to low utilization, PayPal is discontinuing the meQuilibrum and Real Appeal programs in exchange for resources for fitness and health.

• Medical plan

One of the new changes made by PayPal is that you can now contribute to a Health Care Flexible Spending Account (FSA) or a Health Savings Account. Regardless of the medical plan you signed up for (HSA). You can also get reimbursements through Health Reimbursement Accounts (HRA). As a result, you can use the money you save in these accounts to pay for medical, vision, dental, and prescription drugs.

Who Qualifies for PayPal benefits?

If you work at least 20 hours per week in the United States, you are eligible for PayPal benefits.

How to Sign up

You can sign up for PayPal benefits by visiting PayPal’s website. The approval takes a few days, but your benefits begin on the first day.

Conclusion

PayPal’s benefits can come in handy when it comes to prescription drugs, and savings for medical expenses. With the new updates, you now have unlimited access to Calm, which can help you relieve stress and anxiety. If you work at least 20 hours per week, you are qualified for PayPal’s benefits, so sign up now to get the help you need.