The FlexCard
Taking the "Hassle" out of Flexible Spending Accounts!
Many employees already take advantage of this tax-saving benefit; however, your employer just made it easier for you to access your FSA dollars by offering the "FlexCard"!
Your employer is pleased to be able to offer its employees a tremendous enhancement to its Flexible Spending Account benefit: The FlexCard.
The FlexCard works much like a MasterCard® Debit Card - when you incur an eligible FSA expense, such as Prescription fee or Doctor's Co-pay, you simply use the FlexCard to pay for any amount that your insurance does not cover, and the fees are deducted directly out of your FSA! This means no out-of-pocket cost to you at the point-of-service.
- Minimal Claims to file!
- No waiting for reimbursement!
- Immediate access to your FSA account!
HOW IT WORKS…
Once you have enrolled in the FSA program, your FlexCard will be credited with your annual election as your total credit line. Afterwards, you can start using your card to purchase all needed eligible medical and dependent care needs. It can be used at any qualified service provider that accepts MasterCard®. Participants simply present their FlexCard to pay for eligible expenses such as…
- Doctor's Visits & Hospital Stays
- Child & Elder Care
- Dental and Orthodontic Services
- Doctor-prescribed Weight Loss
- Opticians, Optical Goods & Eyeglasses
- Chiropractic Treatments
- Prescription Drugs
- Counseling & Psychiatric Care
The FlexCard instantly pays for these items and services, removing the tedious paperwork and reimbursement waiting periods. And remember, your annual Health Care election will be available at all times during the year!
- The FlexCard means no out-of-pocket expenses!
- The FlexCard means INSTANT access to your FSA dollars!
- The FlexCard means reduced hassles and paperwork! The FlexCard makes using a FSA Easy!
HOW TO USE YOUR FLEXCARD
The FlexCard is authorized for use only at qualified merchants who offer eligible products or services for reimbursement under your Medical Reimbursement or Dependent Care Reimbursement Account and who accept MasterCard®.
Once your merchant requests payment from you for your eligible expenses, simply provide the FlexCard at a point of sale terminal that accepts MasterCard®. The money is automatically deducted from the pre-tax dollars set aside in your account when your card is used.
Note: If the balance on your card is less than the purchases that you are making, your card may not be accepted. Simply follow the below instructions for submitting a manual claim:
On your claim form, print or type and complete all items under Personal Information. In order to receive reimbursement, you must submit an Explanation of Benefits Statement (if applicable) from your insurance carrier; or an itemized statement that includes the provider name, patient name, date of service, description of service, insurance responsibility (if applicable) and patient responsibility for each health care claim. For dependent care reimbursement you have two choices: (1) Fill out all items in the Dependent Care Expenses section and attach a receipt of your payment, OR (2) Fill in your dependent's name, age, date of service and the requested amount, and have your Day Care provider fill out the Affidavit of Dependent Care Provider. You must sign and date the form and attach any corresponding receipts in order for the claim to be processed.Manual Claim Form Procedures should be followed if your merchant or dependent care provider does not accept MasterCard®.
Claim forms are available by calling Flexible Corporate Plans Inc. at 1-888-505-4557 or online at www.flexcorp.com
SAVE ALL RECEIPTS TO VERIFY EXPENSE ELIGIBILITY
The IRS may require verification of claims based on dollar amount and location of card use. It is important that you keep all of your receipts in a convenient location so that you can submit them when requested.
Participants will be notified via email if the claim is pending and additional verification is needed.
If a participant is asked to verify an expense and does not do so within a specified amount of time, the FlexCard may be turned off until such time the expense is verified.