PDF Paying yourself back from your PayFlex FSA - nylbenefits.com Because most plan years are calendar years, this option usually allows you to use the money from Jan. 1 to March 15 the next year. PDF PayFlex HSA Quick Reference Guide - Arizona 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. p. a. yex.com. No. This means you may choose credit and sign the receipt. Spending money in your account is easy with the PayFlex Card. Yes. How can I get money off my PayFlex card? Note: If you have multiple The card wont work at an ATM And you cant get cash back with your card. Use it for eligible health care expenses, such as doctor and dentist visits, prescriptions, hospital stays, hearing and vision care. You'll be able to research the mutual funds available to you and make informed choices. No. Even using the money on things you wouldnt have thought of is better than losing it, so pat yourself on the back for being a savvy consumer. What if I don't have documentation or used my card in error? 02/03/2023 - 02:36 CST. All you need to do is send us documentation that shows the following: Well let you know in the letter the date that we need you to respond. Many transfers between accounts can happen immediately. . Pay your provider You may pay your provider directly from your account. Once your account hits the minimum required balance for investments, you can start investing your money. Using your card means you dont have to pay out of pocket. After you log in to the app, select Manage to get started. Or you can simply pay out of pocket and then submit a claim to pay yourself back. If your FSA has a grace period, you have an additional two months and 15 days after the end of your plan year to spend your FSA funds. Note: In order to keep your information safe, Paychex support staff may not be authorized to speak with our clients' employees, depending on the situation. You can also pay for deductibles, co-pays, and co-insurance. If you're overwhelmed by high-interest debt (think 8% or higher), taking out a 401 (k) loan could make sense. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. What If You Use Your Health Savings Debit Card For Take-Out? - Forbes Your ID number is your Social Security number. 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. 03. Member Login | PayFlex Note: Closing the account may have tax consequences. Our partners compensate us. Click Complete Validation next to the bank . The Instant transfer typically takes a few minutes to complete (up to 30 minutes). 4. Well let you know in the letter, the date you need to respond. With the PayFlex Mobile app, you can access your account anytime, anywhere. When you contribute to your HSA with the money you save from your lower premiums, you give yourself tax-free dollars. 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. Once you finish these steps, your card will be activated. Payflex Shopper FAQ's | Get Answers to Your Questions If you decide to send funds to yourself, you can choose to transfer the funds to your bank account (if youve linked an account) or request a check. When you pull out funds from your HSA for . Be sure to review your plan to find out exactly whats eligible. Log in to the app and select the Financial Center. TASC Card FAQs - Participants Swipe your way to smart savings. Despite the hassle of having to spend this extra money, FSAs are generally a good way to avoid paying taxes on medical costs. It must show: Generally, we wont ask you to send information for your prescriptions. 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. Click on Order a Dependent Debit Card. Your card is good for five years as long as youre a PayFlex member. You may also use your card at some discount and grocery stores. And when you're using a desktop, you can expect the same user-friendly experience. Go to Account Settings. All you need to do is select your eligible item, swipe Note: If you have multiple accounts, select your health savings account from the drop-down menu at the top of the page. The 2nd option is the one you are using, with a 1 year delay. There are three types of FSAshealth care FSA, dependent care FSA and limited purpose FSA. Please try again later. It makes the fax hard to read. In other words, if you had spent the money on an eligible purchase (like orthotic inserts) your refund would have included the full $100. Funds that are rolled over continue to grow and earnings are tax free. They can assist you with the process of restoring your identity. Many banks limit the amount of money you can withdraw from an ATM on a single day. And if you haven't set up your online account with PayFlex yet, go to payflex.com to get started. PayFlex is the administrator of the TexFlex Flexible Spending Accounts. If you have a PayFlex Health Savings Account, HSA, you can request funds and make deposits to your HSA. Yes, you can add your FSA or HSA card as a payment option in Your Account by clicking here. If so, you can use the card to pay for eligible expenses at qualified merchants. Click on Order a Dependent Card. It's good for five years. Employers are also allowed to give unused money back to workers -- but there's a catch. Out-of-pocket expenses are those not covered by insurance or any other plan. How do I check my PayFlex balance? - Squarerootnola.com To use your card, simply swipe and select either Debit or Credit. After you swipe the card, our system automatically confirms if you have enough funds available. Get help when you need it. When evaluating offers, please review the financial institutions Terms and Conditions. It is similar to a debit card since it electronically accesses the money loaded onto the card, when used to pay for eligible expenses. How do I transfer money from my PayFlex card to my bank account? Thats right - this is the only tax- free financial account where you can gain interest and save money while spending on qualified health expenses. Spend - Once funds are in your FSA, you can use the PayFlex Card, your account debit card, to pay for your eligible expenses, if offered by your employer. We're sorry. 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). Eligible expenses may include doctor and dentist visits, hospital stays, prescriptions, and hearing and/or vision care. PayFlex Card. Flexible Spending Accounts (FSAs) for Individuals | PayFlex - Aetna If your expense went through your medical or dental plan, youll need to send an Explanation of Benefits (EOB) from your plan. The Standard transfer typically completes in 1 working day. 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. You may still be able to submit claims for eligible expenses that you incurred during the time you had coverage. How to Spend Your Extra FSA Money Before It's Gone - NerdWallet About the author: Lacie Glover is an insurance editor and writer and a NerdWallet authority on insurance. Her work has been featured by USA Today, U.S. News and World Report and The Associated Press. Yes. 1-844-PAYFLEX If your expense is eligible, you can submit a claim to pay yourself back. Fax: Fax your documentation to PayFlex. Your FSA election remains in place for the plan year. Note: If you dont send an EOB, itemized receipt or statement with your claim, well deny it. When your HSA has the minimum balance amount required, you can begin to invest through a variety of four-star-rated mutual funds. Once the plan year is over, that money is gone. Its that easy. Use our app to scan a barcode, in-store or anywhere else. The card itself may have restrictions on where you can spendand on what. Review the full list of eligible expenses and choose how to spend your funds. Unused HSA funds roll over year to year; there is no use it or lose it penalty. Employees can use it to pay for their health care expenses. What Is a Medicare Advantage (Part C) Plan? 10.4. The only way to change your FSA election during the plan year is if you have a status change event and as a result of that event, its necessary for you to change your election. PDF PayFlex Flexible Spending Account Paying for eligible dental expenses PDF Quick Reference Guide - George Washington University Have questions about your card? . Generally, we send a request for documentation when were unable to verify if one or more of your card purchases is eligible. Sign it in a few clicks. Flexible spending arrangements (FSAs) can help you spend less on health care, but only if you use yours correctly by spending all the money in it before a year-end deadline. Once you create your PIN, you can use it right away. 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. Pre-qualified offers are not binding. Call 1-888-678-7646 (TTY: 711). 01. Your employer will deduct that amount from your paycheck in equal amounts each pay period. Pay with your PayFlex Card When you use it, your expense is automatically paid from your account. What can you use PayFlex for? 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.Your HSA BankHSA BankHSA Bank is a health savings account (HSA) administrator in the United States. Each FSA has its own contribution limit, which is set by the Internal Revenue Service (IRS). Generally, you have 30 calendar days from the date of your status change to change your election. Fuel, gasoline for medical care reimbursement is eligible with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA). After that, you may be able to use your account for any eligible healthcare expenses. 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. "t;#/~0 , Your account balance may not cover the expense. You can withdraw funds from your HSA at any time to cover qualified medical expenses, which are listed below. Health Savings Account (HSA) from Aetna | Pre-Tax Benefits Her work has been featured by USA Today, U.S. News and World Report and The Associated Press. PAYFLEX SYSTEMS USA - 30 Reviews - Yelp 0 When you contribute to an FSA, that money is deducted from your pay on a pretax basis. In a Nutshell. 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. . By the way, that HSA of yours will grow over time. If you havent set up your online account with PayFlex, you can get started today. You can withdraw money from your HSA at any time for any purpose If the money is used for an ineligible expense (whether medical or non-medical), the expenditure will be taxed and, for individuals who are not disabled or over age 65, subject to a 20% tax penalty. However, once we confirm that the amount you paid was for an eligible expense or receive your re-payment to cover the expense, well re-activate your card. 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. Pre-qualified offers are not binding. How do I withdraw money from my PayFlex HSA? This is the best form of documentation. However, your employer sets your carryover amount. Medical spending includes expenses for hearing, vision and dental health, even if you dont have insurance for those. Where can I use my PayFlex Card? 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. endstream endobj startxref UAH - Human Resources - Flex Spending Money set aside in these accounts will reduce your taxable income, providing you with more value for the dollar. To learn what's allowed, visit an online FSA store that sells only FSA-eligible items, like. How to Withdraw Money From PayPal With (and Without) a - SuperMoney Or those high dollar expenses like surgery, orthodontia, and hearing aids. Tap Transfer Money. FSAs are tax-advantaged accounts that can be used for medical expenses only; they're sometimes also called flexible spending accounts. 3. This reduces your taxable income. Contact us And when they are paired together, you can save even more. What Are ATM Withdrawal Limits? | Credit Karma Can an employee use their HSA for non-medical expenses? 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 3. If your SSN is not accepted, you may need to enter the last four digits of your Employee ID number. How to Get a Flex Card on Medicare | Medigap.com If not offered, you can easily be reimbursed from PayFlex for any money you spend out of pocket on qualified expenses, by taking a picture of your receipt and uploading through our mobile app or member website. You dont need a new card when you move from one PayFlex plan to another. Can I withdraw money from my HSA after age 65? Simply click on the corresponding icons to visit our online vendors to purchase an eligible healthcare item. Plus, an HSA is a triple tax advantage account, which means that contributions, earnings, and withdrawals for eligible expenses are tax-free. If you have a health care FSA, you can use your card for eligible expenses that you incur during the plan year. If you have an Apple or Samsung device, you can add your PayFlex Card to your digital wallet. Your employers plan determines which status change events are allowed. Its a fast, easy and secure way to pay with your mobile device If you have an Apple or Samsung device, you can add your PayFlex Card to your digital wallet to help pay for eligible expenses. If you have a TexFlex FSA, you can set up your online account. What Is A Characteristic Of Preferred Provider Organizations? products online using your PayFlex Card or personal credit card. You also need to notify us of any suspected fraud within 10 days. You may request that your TASC Card be reissued. PDF The PayFlex Card, your account debit card Complete a paper claim form and mail or fax it with your documentation. hb```f``ZX @ ](Q,,I@Z "L2j ^S;6b]#"`0LR0+40X. The IRS has a list of approved medical expenses you can check out for more details. Shop at CVS with the PayFlex Card, your account debit card You can use your PayFlex debit card to pay for things like allergy medicines, bandages, cold/cough medicines, feminine hygiene products, medicated lip balm, pain relievers, sunscreen and thermometers. If you choose to send funds to someone else, youll have to select/add a recipient and enter some details about your payment. This is different from a . Once you receive dental treatment, pay the bill with the PayFlex Card, your account debit card. Is US Family Health Plan Part Of TRICARE? View account . Step 1: Enter the amount you want to withdraw. Contribute - Estimate the amount you expect to spend during the plan year on eligible out-of-pocket expenses. Or your plan may only allow prescription . PayFlex Mobile App & PayFlex Card | PayFlex - Aetna Now let's get you up to speed on flexible spending accounts. For 2023, the health care FSA and limited purpose FSA contribution limit is $3,050. A health care FSA helps you pay for eligible out-of-pocket medical, dental, vision, hearing and prescription drug expenses for you, your spouse and your tax dependents. Your employer will let you know how and when to submit claims. 02. If you need a card for your spouse or dependent, you can order one through the PayFlex member website at no cost. Question about your benefits? Click Continue. An HSA is similar to an individual retirement account (IRA) or 401(k). Check the app and view your balance in just a couple of taps. For this reason, we ask that you please contact your employer or on-site administrator before contacting Paychex. Here's how to withdraw money on the PayPal app: Tap Wallet. If you dont respond by this date, well have to suspend your card. By the time we get to the health savings account (HSA . Enter your claim details, take a picture of your itemized receipt, statement or Explanation of Benefits and submit. When you file Form 8889 for the reimbursing year, this amount will appear . And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. If your plan has a grace period, youll have a little extra time to spend that money, but youll have to spend it all or forfeit some. So, you can't withdraw money from your online casino account if that's what you're looking for. And you cant get cash back with your card. 2. We're here to help Monday through Friday, 7 AM to 7 PM CT and Saturday, 9 AM to 2 PM CT. To use your card, simply . How does the card work? Theres more than one reason why you may not be able to use your card. Read on to learn more about how FSAs can benefit you! Simply choose your eligible expense item and use your card to pay from your PayFlex account. If you have a PayFlex HSA, you can transfer funds through the app. Once funds are in your FSA, you can use the PayFlex Card, your account debit card, to pay for your eligible expenses, if offered by your employer. PayFlex Mobile app*: Log in to the PayFlex Mobile app. You can use the card to pay for eligible expenses. Medical spending includes expenses for hearing, vision and dental health, even if you dont have insurance for those. Need to file a claim? Senior Assigning Editor | Los Angeles Times; University of California, San Diego; Microsoft. If you decide to send funds to yourself, you can choose to transfer the funds to your bank account (if youve linked an account) or request a check If you choose to send funds to someone else, youll have to select/add a recipient and enter some details about your payment. Frequently Asked Questions | CVS Health - Aetna You can do this online, through the PayFlex Mobile, or complete a paper claim form and fax or mail it to us. A flexible spending account (FSA) lets you pay for eligible expenses with tax-free money. But let's say you decide to quit your job on Jan. 6. Heres how it works. This influences which products we write about and where and how the product appears on a page. HSA funds cant be rolled over into an IRA account Theres also no reason to do so, because you preserve your right to use the funds tax-free for medical costs at any time with an HSA. Call our Client Care team at 1-888-472-8697. Under no circumstances can your boss give the money back to you directly. If you wish to set up a Personal Identification Number (PIN), call 1-866-898-9795. Insert your credit card into an ATM. 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). Contact our accountable and empathetic service . Some employers may also offer the PayFlex Card with a dependent care FSA. *Standard text messaging and other rates from your wireless carrier still apply. PDF Flexible Spending Account (FSA) Compare accounts and find the solution that fits you best.