Great question! Wagmo Wellness claims are handled in house and therefore have a faster processing time. This also allows us to reference your preferred reimbursement method in your Wagmo account.
Wagmo Insurance claims, however, are processed via a third-party administrator (TPA). Due to the regulated nature of insurance products, we partner with a specially licensed vendor for insurance claims. As such reimbursements for claims are also reimbursed differently.
You will also notice that for each insurance claim you submit, you will need to confirm your preferred reimbursement method each time. Our aim is to ensure that your reimbursement method is up to date and we’re not sending the money to a deactivated account or somewhere you can no longer retrieve it. Insurance reimbursements can be much higher at times than those for Wellness and we know how important these reimbursements can be, so we’re doing our due diligence to ensure you are receiving the money in the right place.