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Making the most of your paycheck becomes simpler when you utilize tax-free funds for qualified healthcare expenses. By enrolling in a health care Flexible Spending Account (FSA), you allocate pretax dollars via automatic deductions from your paycheck, thereby decreasing your taxable income.
Upon enrollment in a Flexible Spending Account (FSA), Benefit Resources will send you a debit card for convenient payment of healthcare expenses. It is crucial to retain your receipts, as you will need to demonstrate that your expenses were indeed healthcare-related.
Make an eligible purchase, swipe the card and save the receipt; or pay out of pocket for the eligible purchase, download the app, scan the receipt and voila you’ll be reimbursed in a few days – many find this method easier than using the debit card.
Key guidelines:
Your Flexible Spending Account can cover a range of costs, including deductibles, co-insurance, co-pays, prescription and some over-the-counter medications, health supplies, and several other qualified expenses. For a comprehensive list of eligible expenses, refer to IRS Publication 502, Medical and Dental Expenses.
Check your balance
Be sure to monitor your FSA balance so that you know how much funds you have to spend.
Set up direct deposit
You'll receive your reimbursements faster by setting up an account for direct deposit reimbursement.
Substantiate claims
Pre-tax benefit accounts are governed by the IRS and require proof that funds were used for eligible expenses. Submit requested receipts timely to ensure your debit card remains active and you don't incur imputed income.
Search and discover the multitude of products that are FSA eligible.
You can contribute to a Flexible Spending Account for medical, dental and vision expenses as long as you’re not enrolled in the Health Savings Account Medical plan (HSA). The HSA already gives you a tax benefit on medical expenses.
From guidance in choosing the best options for you, what resources are available to understanding how the plans work. The information you need is at your fingertips.
Access your FSA fund balance, request reimbursement, view claims history and more.
Substantiate Claims – BRI will request receipts for purchases made with the debit card. If receipts are not provided, the expense can be considered taxable income.
Check Your Balance – Look at your account balance before the end of the plan year. Don’t lose your hard earned money by not utilizing your contributions. Remember FSA is use it or lose it.
Shop the FSA Store – Find a wide Selection of over 2,500 FSA eligible products in one convenient place to help spend down unused funds.