FSA BENEFIT DEBIT CARD
ELIMINATE PAYING OUT-OF-POCKET
AND WAIT FOR REIMBURSEMENT.
FSA Beneﬁ t Debit Cards can be used at
qualiﬁ ed locations including hospitals,
physician, dental ofﬁ ces, pharmacies and
merchants with speciﬁ c certiﬁ cation.
The IRS regulates the rules regarding
eligible expenses; therefore, there will be
some transactions that need to be
substantiated for eligibility. At BASIC,
we have an 87% auto substantiate rate for
debit card purchases. There are, however,
some instances when participants will be
required to submit itemized documentation
for their FSA Beneﬁ t Debit Card
In all cases, itemized documentation
for transactions should be kept.
Debit Cards will be suspended if
documentation is not provided.
Debit Card availability is determined by
your employer. Please check with your
beneﬁ ts department to ﬁ nd out if a debit
card is available.
PLAN RULES ARE COMPANY SPECIFIC
While this booklet provides general information about a plan,
a Summary Plan Description (SPD) containing further details is
available. If you have speciﬁ c questions regarding your particular
situation, you may want to consult your company Beneﬁ ts
Coordinator, an attorney or accountant.
Refer to the Summary Plan Description (SPD) to ﬁ nd out how
long you have to submit remaining claims after your plan year or
coverage has ended.
CHANGES TO YOUR CONTRIBUTIONS
You may change your annual election if you have a qualiﬁ ed
change in status (marriage, birth, adoption, death or divorce).
The change in status must correlate with the event and be made
within 30 days of the event. For example, if the event is a birth,
you may increase your election, not decrease it.
END OF YEAR BALANCE
According to the IRS, money left in your account may become the
property of your employer and cannot be returned to you. Please
see the Summary Plan Description (SPD) for further details. Most
people use all their funds by good planning . . . such as getting
a physical, dental checkup or new glasses. Rarely is there ever
more than 5% left in the account, and the tax savings more than
outweigh this amount.
Flex Beneﬁ ts end upon termination of employment and/or
Services must be rendered during your current period of
coverage. For new employees entering the plan during the plan
year, services must be rendered after your eligibility or election
date, whichever is later.
If you have questions at anytime
call 800-372-3539 and speak to
a BASIC Flex Account Manager.