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on the log in page of the app. Fax: Fax your documentation to PayFlex. Then withdraw funds from your FSA to pay yourself back and have your payment deposited. Medical spending includes expenses for hearing, vision and dental health, even if you dont have insurance for those. It must show: For prescriptions, send your detailed receipt that includes the pharmacy name, patient name, prescription name, date the prescription was filled and amount you paid. Want to know if your expense is eligible? These limits are subject to change annually. Fastest Paying PayFlex Casinos in 2023 If funds become available in your account, you can pay yourself back by submitting a claim. If youre worried about identity theft after cancelling your card, you can use Mastercards Identity Theft Resolution Services at no cost. Keep in mind that some merchants may ask you to select Debit. This means youll need to enter your PIN to complete the transaction. Where can you withdraw money from your EBT card for free? When you report that $100, it will be taxed at 25% and you will only get $75 on your tax return. A healthcare FSA lets you use pre-tax dollars which you contribute to pay for eligible healthcare expenses that aren't covered by your health plan. You no longer need a prescription from your physician to pay or get reimbursed for OTC drugs and medicines. And PayFlex makes investing easy with a choice of funds and the facts you need, right on the website. You'll use your card to pay for eligible expenses like office visits, deductibles, copays and coinsurance, prescriptions and certain over-the-counter items. If you have the rollover option, youll have all of next year to spend that money, on top of any money you plan to contribute next year. By the way, that HSA of yours will grow over time. Your FSA coverage may end on your last day of work or it may end at the end of that month. Here is a list of our partners and here's how we make money. However, your employer sets your carryover amount. 39 0 obj <>/Filter/FlateDecode/ID[<3EC4ADDF315B47999FAB81CA5F9841E0>]/Index[20 32]/Info 19 0 R/Length 86/Prev 96267/Root 21 0 R/Size 52/Type/XRef/W[1 2 1]>>stream Can I withdraw money from PayFlex? Here is a list of our partners. This lets you withdraw funds from your HSA and deposit them into your linked bank account. (1-844-729-3539) (TTY: 711), Monday through Friday, 7 AM to 7 PM (CT) Toothpaste is not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA), limited-purpose flexible spending account (LPFSA) or a dependent care flexible spending account (DCFSA). They can assist you with the process of restoring your identity. And when you're using a desktop, you can expect the same user-friendly experience. Account Settings (at the top of the page) and click . Plus, youll be prepared when you need to pay for health care expenses during the year. Funds in your account roll over from year to year. Choosing the right health plan can be easier than you might think. You can download the app from your mobile devices app store. If you're overwhelmed by high-interest debt (think 8% or higher), taking out a 401 (k) loan could make sense. If you have grown children on your health insurance plan but dont claim them as dependents, you can still spend FSA money on their medical expenses if they will be 26 at the end of the current plan year, usually Dec. 31. If your SSN is not accepted, you may need to enter the last four digits of your Employee ID number. Well let you know in the letter, the date you need to respond. Enter the spouse or dependent name and click Submit. The card itself may have restrictions on where you can spendand on what. You should contact your Human Resources or Benefits Department for more information. You can only use the card to pay for eligible expenses. When your HSA has the minimum balance amount required, you can begin to invest through a variety of four-star-rated mutual funds. You'll receive your PayFlex card in the mail. It is similar to a debit card since it electronically accesses the money loaded onto the card, when used to pay for eligible expenses. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. This gives you more time to submit claims for eligible expenses that you incurred during the plan year. This is different from a . In today's digital world, it's important to have a secure and reliable way to pay for your eligible health care expenses. Two options for that extra cash. The money you contribute reduces your taxable salary, meaning thousands in tax savings for high-income folks. So when you select an HDHP, youre already saving. Our partners compensate us. Employees must re-enroll in the FSA program . Previously, he has worked as a channel manager at MSN.com, as a web manager at University of California San Diego, and as a copy editor and staff writer at the Los Angeles Times. Or you can simply pay out of pocket and then submit a claim to pay yourself back. We're sorry. What if I don't have documentation or used my card in error? Many banks limit the amount of money you can withdraw from an ATM on a single day. On March 27, 2020, the CARES Act passed and changed the rules for OTC drugs and medicines. How Do I Withdraw Money From My PayFlex HSA? When you contribute to your HSA with the money you save from your lower premiums, you give yourself tax-free dollars. The app is supported by the following devices: iOS version 10 or above on iPhone 5S, iPad Air, iPad Mini 2 or newer models, Android version 7.0 Nougat or above on phones or tablets, View your account balance, deposits and payments, View your PayFlex Card purchases and submit documentation (if applicable), View account alerts and PayFlex contact information, Pay your health care provider directly from your HSA, Get protected access to your account information, Use the same secure username and password you use on this website. Enter your claim details, take a picture of your itemized receipt, statement or Explanation of Benefits and submit. What most people view as routine expenses can actually be FSA-applicable.. Whether you're commuting to work or taking the kids to soccer practice you need a solution that offers flexibility and the power to access your healthcare funds whenever, wherever. ONE debit card for your FSA and all your other benefits. Then enter your card number followed by the # sign. Many transfers between accounts can happen immediately. Search for the order using the customer name or payflex order number or merchant reference number; Select the view/refund button; Capture the amount and reason for processing the refund (for your own records). The care must be for your child under age 13, or for a spouse or dependent who isnt able to take care of him or herself and who lives with you at least half of the year. When you contribute to your HSA, your funds are placed in an FDIC insured account that earns interest and grows tax free. You can use this money to pay for HSA eligible products. Fuel, gasoline for medical care reimbursement is eligible with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA). Note: If you dont send an EOB, itemized receipt or statement with your claim, well deny it. Your election amount is simply deposited into your account and available on your card. The PayFlex Card is your account debit card. Just pay for those expenses out of pocket. Like a 401 (k) retirement account, the HSA is yours to keep. Remember: If you use your personal credit card rather than the PayFlex Card, please keep your printed receipt(s) and submit online via Express Claims. Note: Closing the account may have tax consequences. You can upload them to your online account or via the mobile app to verify your card purchases. When you file Form 8889 for the reimbursing year, this amount will appear . 4. If you are still covered by a qualifying high-deductible health plan, you can continue to contribute as well. 1 Second, spending your HSA money on qualified medical expenses is free of federal . Your plan administrator may have coupon codes or special deals so you can get more for your tax-free dollar, so head to your online FSA portal to find out first. Email and text message options are also available. No. Click Order a Dependent Debit Card. Saturday, 9 AM to 2 PM (CT). Your HSA card can only be used for eligible expenses at specific healthcare-related service providers or merchants where you can purchase healthcare goods or services Your HSA card has no cash access. You can deposit funds into your HSA or request funds from your HSA. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. This may include doctor and dental offices, hospitals, pharmacies, and hearing and vision care centers. You'll only need to enter the last 4 digits. If your expense didnt go through your medical or dental plan, you can send an itemized receipt or statement for the expense. Thats right - this is the only tax- free financial account where you can gain interest and save money while spending on qualified health expenses. Theres no fee to download the app. And thats how an HSA can help you build a better financial future. Your employer may offer a PayFlex Card, AKA your account debit card. Example: You have an annual salary of $60,000 and you decide to contribute $2,500 to a health care FSA and $2,000 to a dependent care FSA. However, this does not influence our evaluations. 20 0 obj <> endobj We believe everyone should be able to make financial decisions with confidence. For example, your card might not work if you try to use it at a supermarket or convenience store If you cant run a transaction using your HSA card, you will have to submit your expenses for reimbursement after the fact. You can use your card at qualified merchants where Mastercard is accepted, and where merchants can process health care cards. Call us as soon as possible to report a lost or stolen card. Once you order a card, you should get it within 10 to 15 business days. PayFlex is the administrator of the TexFlex Flexible Spending Accounts. If thats the case, youll only have to worry right now about the money in excess of your rollover limit. At PayFlex, were here to help you make a smart choice for your overall well-being. Note: If you have multiple In 1997, HSA Bank entered the consumer-directed healthcare market by providing medical savings accounts (MSA) to small employers and the self-employed . Support for Clients and Employees. 2023 PayFlex Systems USA, Inc. All Rights Reserved. This can be done on its website or through the PayPal app. Flexible Spending Arrangements (FSAs) are tax-free, "use it or lose it" savings accounts for medical and certain non-medical expenses. You can use your FSA funds for over-the-counter (OTC) items, supplies, drugs and medicines (if theyre considered eligible under your plan). What will happen to potassium if the sample is hemolyzed? If your FSA plan has the rollover option and you plan on leaving some in for next year, you can contribute even less. You should check your plan documents to confirm this. No. An HSA withdrawal is the last tax perk in the string of three tax advantages offered through this account. Once you create your PIN, you can use it right away. Use your card at qualified merchants who can process health care cards. OK92033) Property & Casualty Licenses, NerdWallet | 55 Hawthorne St. - 11th Floor, San Francisco, CA 94105, How to Spend Your Extra FSA Money Before Its Gone for Good, Assigning Editor | Auto insurance, home insurance, other insurance. Or you can click on the column headers in the table to see which are eligible, eligible with a Letter of Medical Necessity (LOMN), or not eligible. You can do this online, through the PayFlex Mobile app, or complete a paper claim form and fax or mail it to us. This is an IRS rule. Youll need to contact your Human Resources or Benefits Department to change your election. hbbd``b` $; Hpi VM)X$@8 & Eligible expenses may also include prescriptions and OTC items for dental and vision care. Click on Make an HSA Withdrawal. But if we do, send your prescription drug receipt that includes the pharmacy name, patient name, prescription name, date the prescription was filled, and the amount you paid. With PayFlex, you have the tools, services, and support to make the best decisions for your health and financial well-being. Pre-qualified offers are not binding. Click Complete Validation next to the bank account you wish to validate. Submit a claim online. If your expense went through your medical or dental plan, youll need to send an Explanation of Benefits (EOB) from your plan. These include day care, before and after school programs, nursery school or preschool, summer day camp and adult day care. This is the best form of documentation. (1-844-729-3539) (TTY: 711), Monday through Friday, 7 AM to 7 PM (CT) We're here to help Monday through Friday, 7 AM to 7 PM CT and Saturday, 9 AM to 2 PM CT. Theres more than one reason why you may not be able to use your card. This information may be different than what you see when you visit a financial institution, service provider or specific products site. All financial products, shopping products and services are presented without warranty. Learn more about Health Care Flexible Spending Accounts, Tax-free spending on eligible health care expenses, Let's take the mystery out of pretax accounts, PayFlex Individual Health Savings Account (HSA), Employer-sponsored Health Savings Account (HSA), Health Care Flexible Spending Accounts (FSAs), Dependent Care Flexible Spending Accounts (FSAs), Money spent after-tax on health care expenses, Money spent after-tax on dependent care expenses, Change in legal marital status (marriage, divorce, legal separation, annulment, death of a spouse), Change in number of tax dependents (birth, adoption, death), Change in employment status that affects benefit eligibility, Dependent becomes or is no longer eligible under the plan (reaches limiting age, gains or loses student status), Change in residence that affects eligibility. It includes most expenses related to medical care, with the notable exceptions of health insurance premiums and over-the-counter medication. It helps you save on everyday items like contact lenses, sunscreen and bandages. Spending money in your account is easy with the PayFlex Card. If you have an Apple or Samsung device, you can add your PayFlex Card to your digital wallet. If HSA funds are withdrawn for non-medical use before age 65, some penalties apply: funds withdrawn early lose their tax-exempt status and are . Link your bank account to transfer funds You can link one or more bank accounts to your HSA to easily transfer funds to and from your HSA. ` 7 Note: If you don't respond to the request, your card may be suspended until you either send in the In many FSAs with an extension option, the deadline to use the money is the same as the deadline to submit claims to the FSA broker for the year. You can spend your FSA money on medical expenses for your spouse, children or any other qualifying dependent you claim on your taxes. The expense may be ineligible under your plan. Please mail, fax or email the completed form to PayFlex The address, fax number and email address are on the bottom of the form. Get help when you need it. Contact our accountable and empathetic service . A grace period, when you can keep spending FSA money up to 2 months past the end of the plan year. However, you should keep all your itemized receipts, statements and Explanations of Benefits (EOBs). 2. When you contribute to your HSA with the money you save from your lower premiums, you give yourself tax-free dollars. So if youre nearly due for a teeth cleaning or eye exam, make an appointment and you can use your FSA to pay for those visits, including, you can check out for more details. You made a purchase in the prior year, and are now reimbursing yourself using your HSA. For 2023, the health care FSA and limited purpose FSA contribution limit is $3,050. The funds in an HSA can be used for general non-medical purposes, without penalty, once the employee reaches age 65. Unused HSA funds roll over year to year; there is no use it or lose it penalty. If your expense is eligible, you can submit a claim to pay yourself back. Definitely recommend rolling it over to fidelity though as you don't want to get stuck paying $5 a month with PayFlex. Complete a paper claim form and mail or fax with your documentation. Yes. You also need to notify us of any suspected fraud within 10 days. If your plan includes a PayFlex Card, you'll use that to register your account on the PayFlex member website. We use cookies to ensure that we give you the best experience on our website. Online Transfer On HSA Banks Member Website , you can transfer funds from your HSA to an external bank account, such as a personal checking or savings account. Tap your PayPal balance. The main benefit of an FSA is that the money you contribute is deducted from your pay on a pretax basis. If your expense went through your medical or dental plan, youll need to send an Explanation of Benefits (EOB) from your plan. Yes, that 20% tax sure bites, as it was your money . Contribute - Estimate the amount you expect to spend during the plan year on eligible out-of-pocket expenses. Once you order a card, you should get it within 10 to 15 business days. For . Click on Make an HSA Withdrawal. If so, you can use the card to pay for eligible expenses at qualified merchants. Walmart doesnt currently accept HSA cards as a payment method , though, so customers who buy items from its HSA Shop use a credit or debit card and then submit an order receipt to their plan administrator for reimbursement. NerdWallet strives to keep its information accurate and up to date. This lets you withdraw funds from your HSA and deposit them into your linked bank account. It depends on your plan. Not sure how much you have to spend? While you cant have any back, there are two cases where you may get a little extra time to spend your FSA cash: A rollover option, where you can move up to $500 to next years balance. So, you could save about 30 cents on every dollar you spend on eligible expenses. Learn more about the PayFlex Card & PayFlex App, Learn more about the PayFlex Card and PayFlex Mobile, PayFlex Individual Health Savings Account (HSA), Employer-sponsored Health Savings Account (HSA), Health Care Flexible Spending Accounts (FSAs), Dependent Care Flexible Spending Accounts (FSAs). To get started, view your alerts. Click on the Financial Center. Check out the list of common eligible health care expenses. SAM. Your employers plan determines which status change events are allowed. You have two ways to . To confirm your PIN, re-enter your four digits. So how do we make money? Your health plan should take care of the whole you both physically and financially. Our system will automatically confirm if you have enough funds available. Read on to learn more about how FSAs can benefit you! Add your card to your digital wallet for an even more convenient way to pay. I signed up in October for an effective date of 1/1/23. products online using your PayFlex Card or personal credit card. With your pretax FSA contributions, you could save about $1,020. To use your card, simply . If any of your HSA money is invested, your current HSA may be held in 2 separate accounts which are both eligible to be transferred. Yes. But you'll make these contributions with after-tax funds rather than pre-tax funds, and the employer can charge an administrative fee of up to 2%. Be sure to review your plan to determine whats eligible. No. Health Benefits Debit Card Your HSA Bank Health Benefits Debit Card provides access to your HSA funds at point-of-sale with signature or PIN and at ATMs for withdrawals. Click on Make an HSA Withdrawal. Wal-Mart Stores implements a technology solution to enable customers to use flexible spending account (FSA) debit cards The internally developed Inventory Information Approval System (IIAS) works by identifying FSA eligible merchandise, which have a unique ID number, as items are scanned at checkout. Use it for eligible health care expenses, such as doctor and dentist visits, prescriptions, hospital stays, hearing and vision care. Thats right this is the only tax- free financial account where you can gain interest and save money while spending on qualified health expenses. Health Care FSA Visit Website. Your FSA likely has one of these options for excess money in the account, but it cannot have both under IRS rules. This, in turn, may help lower your taxable income. You can feel good about contributing to a health care FSA. Under Quick Links, click Manage My Debit Card(s). As you watch your savings grow, youll worry less about paying for your health in the future something your 401(k) will thank you for. You can use this card to pay for certain eligible expenses. Using your card means you dont have to pay out of pocket. Be sure to check your plan to see which accounts are offered. Apple, iPad Air, iPad Mini, iPhone and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. You can use your HSA account for a lot more than you think. Medical spending includes expenses for hearing, vision and dental health, even if you dont have insurance for those. If you request a rollover, the HSA custodian will send the funds to you via check or transfer to your personal bank account (not your HSA). You can do this online, through the PayFlex Mobile, or complete a paper claim form and fax or mail it to us. To get your money faster, link your bank account (set up direct deposit) After logging in, go to . You'll also have access to our barcode scanner a tool that helps you verify if an item is an eligible healthcare expense. Important News. If your health plan is covering part of the expense, wait to use the card until you know how much you owe. Mail: Mail your documentation to PayFlex. Contact us endstream endobj 21 0 obj <>>> endobj 22 0 obj <> endobj 23 0 obj <>/Font<>/ProcSet[/PDF/Text]>>/Rotate 0/Thumb 6 0 R/TrimBox[0.0 0.0 612.0 792.0]/Type/Page>> endobj 24 0 obj <>stream 03.752.1-ST B (4/20) . And if you're over the age of 55, you can make a catch-up contribution of $1,000. Under no circumstances can your boss give the money back to you directly. Your account balance may not cover the expense. If you have a PayFlex Health Savings Account, HSA, you can request funds and make deposits to your HSA. See How it Works If you have a Flex Spending Account (FSA), you may not be aware that Massage Therapy can qualify as a medical expense. If you havent set up your online account with PayFlex, you can get started today. . If so, you can use the card to pay for eligible expenses at qualified merchants. A good starting point is determining how much of your FSA funds you spent effortlessly this year. Lets begin with a high-deductible health plan HDHP for short. Any unused pre-tax funds will be forfeited to your employer, and any post-tax funds will be refunded to you at the end of the ninety (90)-day period. This lets you withdraw funds from your HSA and deposit them into your linked bank account. you can process a partial refund You, your spouse, or dependents are eligible for using the FSA for qualifying expenses. Click on Order a Dependent Card. Then you would pay the balance with another form of payment. Here's how to withdraw money on the PayPal app: Tap Wallet. As a writer, her work was featured in The Associated Press, The Motley Fool and U.S. News & World Report. Draw your signature, type it, upload its image, or use your mobile device as a signature pad. This means you may choose credit and sign the receipt. Pre-qualified offers are not binding. We know that enrolling in health insurance can be challenging. Any funds left in your FSA after the run out period will be forfeited. By choosing an HDHP and a PayFlex HSA, youre making the right choice for your personal well-being. Share your form with others. A limited Purpose FSA can help you pay dental and vision expenses before you meet your deductible. You can withdraw funds from your HSA at any time to cover qualified medical expenses, which are listed below. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. This only applies to flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). Submit a claim using the PayFlex Mobile app. 01. You already know how a PayFlex health savings account, HSA, is a great way to save for health care expenses. If your employer has the Commuter Express benefit program and you have unused funds in your account, unused pre-tax funds will be forfeited to your employer before the next ordering deadline. You should check your plan to know how much you can contribute. The money that goes into your account, which is how you save for current and future eligible expenses, is based on how much you contribute. Follow these steps to change your card details on Payflex: First, you will need to log in to our Customer Portal Once you're logged into the customer portal, follow these steps: Select the View Order button for the order that you wish to add the new card to. Fuel is eligible for transportation to and from medical care, up to the allowed mileage rate. Or your plan may only allow prescription . That's why we offer the PayFlex card, the account debit card that makes it simple for you to pay for your eligible expenses. This means your contribution comes out of your paycheck before Federal, Social Security and in some cases, state taxes are deducted from your pay. Type text, add images, blackout confidential details, add comments, highlights and more. hb```f``ZX @ ](Q,,I@Z "L2j ^S;6b]#"`0LR0+40X. You may be able to use your PayFlex Card to pay for OTC items, supplies, drugs and medicines, if theyre considered eligible under your plan. The card wont work at an ATM And you cant get cash back with your card. Senior Assigning Editor | Los Angeles Times; University of California, San Diego; Microsoft. The Instalment Plan is automatically adjusted by the Payflex Platform by applying the refund amount to the last instalment first and working backwards to the other instalments. Submitting a claim through the PayFlex Mobile app . If this is your second or third time having to scramble to spend all of your FSA money, why not aim to contribute the perfect amount to your FSA in the first place? This account is pre-funded when your plan year starts with the amount you choose to contribute, so you have access to that full amount right away. A standard transfer is free and can take between 1 and 3 business days. This is a good process with any account transfer, the company receiving the money has the incentive to make things go smoothly. Use Text Banking (if you have this feature set up). With the PayFlex Mobile app, you can access your account anytime, anywhere. What Is A Characteristic Of Preferred Provider Organizations? Enter the first and last name of your spouse or dependent name and click Submit. If you wish to set up a Personal Identification Number (PIN), call 1-866-898-9795. No problem. The IRS has a list of approved medical expenses you can check out for more details. Limited Purpose FSA Can I withdraw money from my payflex card? Youll then enter the last four digits of your Social Security number (SSN). The mobile app allows you to stay up to date on your account too. 1. Youll use the same username and password you use for the PayFlex member website. When you receive your PayFlex Card in the mail, call the number on the card to activate it and get your personal identification number (PIN). 2023 PayFlex Systems USA, Inc. All Rights Reserved. IRS regulations do not allow funds to be transferred or commingled between accounts So, the money in your Health Care FSA may only be used for health care expenses and your Dependent Care FSA may only pay for dependent care expenses. So when you use your FSA funds on eligible expenses, you end up saving about 30 cents on every dollar you spend. HR cannot just refund you whatever is left in your account. This is the best form of documentation.