What is the difference between a Monthly and Prepaid Health Spending Account?

Kibono offers employers flexibility in terms of how claims are paid for and reimbursed. Monthly accounts will receive monthly invoices for all employee claims approved during the month. Once the invoice is paid, Kibono will then reimburse employee claims. A Prepaid account allows employers to prefund their Kibono cash account using a credit card or bank account to enable same-day employee claim reimbursements. When your cash balance is low, Kibono will notify you for a top-up or simply setup auto-top ups with a valid credit card.