Using a Flexible Spending Account Enrolling in a flexible spending account (FSA) provides you with a well-deserved tax break. FSAs allow you to place money into your account on a before-tax basis to pay for eligible health care and/or dependent care expenses during the year. Follow the tips below to get the most from this benefit. Learn About Eligible Expenses and Providers If you re unsure whether an expense and/or provider is considered eligible for reimbursement through your FSA, you can find out by visiting the Your Spending Account (YSA) website through the TASC Benefits Service Center at www.mytascbenefits.benefitsnow.com. The website maintains a comprehensive list of eligible health care and dependent care expenses in the Knowledge Center tab. Examples of Eligible Expenses and Providers Eligible Expenses Prescriptions Medical co-pays and deductibles Dental work Contact lenses Health care supplies Over-the-counter medicine* Eligible Service Providers Select merchants Pharmacies Doctor & dental offices Hospitals Medical clinics Vision centers *Requires a prescription from an authorized health care provider. Save Your Receipts You should always save your itemized receipts (listing the provider, date, amount, and item purchased) or any documentation that validates payment of eligible products or services. This also applies to expenses that you purchase with your YSA card. Saving receipts will help you keep track of your expenses plus, you ll need to include these documents when you submit a claim for reimbursement to YSA. You have two options for submitting a claim: Online For your convenience, you can submit a claim form online through the YSA website. Paper If you don t have Internet access, you can obtain a paper claim form by contacting the YSA Service Center at 1-877-248-8519. Whether you complete an online or a paper claim form, you ll need to send itemized receipts or other supporting documentation. If you don t upload, fax or mail this supporting documentation with your completed claim form, your claim will be denied.
Manage Your Account(s) Online The YSA website is your best resource for current, personalized spending account information. When you visit the YSA website through the TASC Benefits Service Center at www.mytascbenefits.benefitsnow.com, you ll be able to: Submit and review the status of your claims. Access comprehensive listings of eligible expenses and merchants. Learn why submitted claims may need your follow-up and what to do about it. Manage your current account balance(s). Find information on other FSA guidelines. Receive reimbursement faster by enrolling in direct deposit. YSA can directly reimburse your bank account for validated claims. Visit the YSA website (Edit Profile) and provide your bank account information so you can get reimbursed faster. General Tips for Using the YSA Card If you re enrolled in a Health Care Spending Account (HCSA), you have the opportunity to pay for eligible health care expenses with the YSA card. The YSA card allows you to avoid paying for eligible health expenses out-of-pocket. When you use your YSA card, your eligible expenses are deducted automatically from your account. The following tips will help you learn how to use your YSA card correctly. Understand that all YSA card transactions must be validated. As part of the validation process, YSA will notify you if itemized receipts are needed to validate your purchases. Although many transactions can be validated automatically, it s important that you save all itemized receipts for your YSA card transactions in case supporting documentation is requested. If you do not provide the required documentation when requested, your YSA card transaction will be considered an overpayment and your YSA card may be suspended. Do not use the YSA card for ineligible items or services. You can only use your YSA card to purchase eligible health care items or services dependent care expenses are not eligible for payment with your card. Always separate eligible health care items (e.g., prescriptions, reading glasses, and contact lenses) from ineligible items (e.g., magazines and cosmetics) before using your YSA card at the point of sale. Ineligible items must be purchased with another form of payment. Visit the YSA website, in the Knowledge Center tab, to review a complete list of eligible health care expenses. Avoid sending in receipts! When you make eligible health care purchases using your YSA card with select merchants that can validate your expenses at the point of sale, the dollar amount will be automatically deducted from your account. Visit the YSA website (in the Knowledge Center tab) for a listing of these select merchants and eligible health care purchases.
Choose credit when you swipe your card. The YSA card is a signature-based debit card. This means you ll be required to provide your signature, similar to when you use a credit card. Refer to the below information to choose the debit option: Existing Card Holders Due to legislative and banking regulations, YSA is now required to issue a Personal Identification Number (PIN) for your YSA card. Effective April 1, 2014 your PIN has been set to the last four digits of your current card number. You will now have the option of using this PIN using the debit option. If you d like to select a PIN of your choice, follow the below steps 1. Call 1-888-999-0194 or the number on the back of your current YSA card. 2. You will be required to provide your card number, zip code, and three-digit security code located on the back of the card. 3. After providing the above information, you will be asked to select a four-digit PIN of your choice New Card Holders All new cards issued beginning December 2013, will require that users set up a PIN prior to activating their card. Activate your card before using it: 1. Call 1-877-344-1097 to establish a PIN and activate your card 2. Sign the back of your card. By doing so, you agree to all the terms and conditions on the enclosed Cardholder Agreement 3. Use your card only to pay for eligible health care expenses. Need additional cards? You can request additional cards for eligible dependents (spouses, children) through the Your Spending Account website after your coverage begins and you have activated your primary card. Note: The same PIN applies to all YSA cards on your account. Additional Information You Should Know As you use your account(s) and benefit from tax savings, here are a few additional things to consider: Submit your claims for reimbursement as soon as possible. All HCSA and DCSA claim requests must be received by March 31 st following the end of the plan year to be considered reimbursement. When you submit an expense for reimbursement from your HCSA, you will be reimbursed for the amount of your incurred expenses, up to the total contribution amount that you elected when you enrolled, even if all of the funds aren t currently available in your account. Unlike the HCSA, you can only be reimbursed from a Dependent Care Spending Account (DCSA) up to the amount that s available in your account. If you incur expenses that exceed your available funds, future claims will be reimbursed as additional funds accumulate in your DCSA. Per DCSA IRS Guidelines, dependent care services must be provided before your claim can be processed. Claims submitted with future incurred dates will be denied and must be resubmitted after the services have been provided. For weekly paid dependent care services submit your claim on or after the last day of the week of care. For monthly paid dependent care services submit your claim on or after the last day of the month of care or ask your provider to break out the charges on a weekly basis and submit at the end of
each week. If your provider is not able to provide a receipt breaking out the weekly charges, have your provider sign the certification section of the claim form each week for that weeks care. As you make decisions about your account, you may want to consult a tax advisor for specific information about the tax implications of using an FSA. Your Spending Account is a trademark of Hewitt Associates LLC.
Tips for Avoiding Overpayment Your Spending Account (YSA) wants you to enjoy the convenience offered by using the YSA card for eligible health care purchases. In order to continue to reap the benefits of the YSA card, it s important for you to understand which types of situations can place your account in an overpayment status. What is an overpayment? Each health care purchase made with your prepaid YSA card must be validated as an eligible health care expense. When an expense can t be validated by YSA, your account is placed in an overpayment status for which you are responsible. Overpayment commonly occurs when: The documentation needed to validate a transaction is incomplete or inadequate; An ineligible health care expense was purchased with the YSA card; or A change in your eligibility (based on a qualified status change) impacts claims that have already been paid. How can I avoid overpayments? Here are some tips to help you avoid overpayments and keep your account in good standing: Make sure that you only use your YSA card on eligible expenses under your plan. Visit the YSA website through the TASC Benefits Center for a complete list of eligible expenses in the Knowledge Center tab. Use merchants that will automatically validate your eligible health care purchases at the point of sale when you pay with your YSA card. Visit the YSA website for a listing of these approved merchants and eligible health care purchases. When requested, provide complete, itemized documentation to YSA. It s good practice to save all receipts! Ensure your documentation is clear and legible. When faxing in your claim and itemized receipts, set your fax machine to a dark, high-resolution setting and don t use highlighters. Use a stand-alone fax machine. Faxes received from PC-enabled fax machines may not transmit legibly. (You can test the clarity of your transmission by printing a fax confirmation page.) If you re enrolled in a plan that offers coinsurance, don t give the doctor your YSA card to pay the estimated coinsurance amount at the time you receive service. Instead, you should use your YSA card to pay the coinsurance amount after your insurance has covered its portion and the provider has sent you a bill. Don t wait until the deadline to respond to validation requests from YSA.
How does an overpayment affect my account? If YSA is unable to validate your YSA card transaction, you ll receive a notice requesting specific documentation (via email or postal mail, depending on your account preferences). Take the appropriate action by the deadline to restore your account s good standing. Once the overpayment is corrected, you ll receive notification (via email or postal mail) that the overpayment was resolved. How can I repay my overpayment? There are several ways to resolve your overpayment: Resubmit the reimbursement request that resulted in an overpayment with additional receipts or other documentation. If the entire request is approved, the overpayment will be satisfied. Submit new reimbursement requests for eligible expenses if you have a remaining balance. If these requests are approved, the overpayment will automatically be paid back until the entire overpayment amount is paid off. Repay the overpayment by check. You can pay online or mail a check to Your Spending Account, P.O. Box 785040, Orlando, FL 32878-5040. The repayment will be reflected in your account two to three business days after it s received. Repay the overpayment online via the YSA website Where can I learn more? Visit the YSA website through the TASC Benefits Center at www.mytascbenefits.benefitsnow.comfor the most current details on your account and a full listing of eligible health care expenses, approved merchants, and documentation requirements. Your Spending Account is a trademark of Hewitt Associates LLC.