In a Nutshell. And use our simple barcode scanner while you're shopping to see which products are eligible expenses. Medicines and drugs from other countries. . Many transfers between accounts can happen immediately. There's no fee in anyone with a PayFlex account can use it. If you dont respond by this date, well have to suspend your card. Otherwise, you can create a fax coversheet and fax your documentation to PayFlex. Fuel, gasoline for medical care reimbursement is eligible with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA). Then use it for a no-touch payment. Fuel is eligible for transportation to and from medical care, up to the allowed mileage rate. With the PayFlex Mobile app, you can access your account anytime, anywhere. It helps you save on everyday items like contact lenses, sunscreen and bandages. Disclaimer: NerdWallet strives to keep its information accurate and up to date. 2023 PayFlex Systems USA, Inc. All Rights Reserved. You can also set up your account to auto-invest all or part of your future contributions in the funds you select, so you have the flexibility to spread your HSA dollars among your fund options however you like. Call our Client Care team at 1-888-472-8697. 02. Not sure how much you have to spend? So if you have any left toward the end of the year, youll need to figure out when and how to spend it. In 1997, HSA Bank entered the consumer-directed healthcare market by providing medical savings accounts (MSA) to small employers and the self-employed . Manage your investment account - you can check the balance, see a summary of your fund performance, update your cash threshold, make changes to your portfolio and more. This gives you more time to submit claims for eligible expenses that you incurred during the plan year. There may be times when we ask you to show that a card purchase is eligible. Youll be asked to enter your card number, the three-digit security code (located on the back of your card) and your five-digit zip code. Unused funds go to your employer, who can split it among employees in the FSA plan or use it to offset the costs of administering benefits. While FSAs can save a lot of tax money, those savings arent as clear when you have to hurry at the end of the year to spend more money to get the benefit. *Standard text messaging and other rates from your wireless carrier still apply. Tap your PayPal balance. In other words, if you had spent the money on an eligible purchase (like orthotic inserts) your refund would have included the full $100. 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. Here's how to withdraw money on the PayPal app: Tap Wallet. It makes the fax hard to read. . You should always keep all your itemized receipts and Explanations of Benefits (EOBs). For a full list of whats eligible, go to www.payflex.com. And make sure to download the PayFlex mobile app to manage your account wherever, whenever. The IRS has a list of approved medical expenses you can check out for more details. Or you can simply pay with cash, check or credit card, and then submit a claim to pay yourself back. Her work has been featured by USA Today, U.S. News and World Report and The Associated Press. Lacie Glover spent more than five years covering health care costs and all types of insurance as a NerdWallet writer before becoming an assistant assigning editor in 2019 and later an assigning editor on the insurance team. 1. What most people dont understand is that the list of eligible expenses is pretty robust, says Steve Auerbach, CEO at Alegeus, a benefits management company. Be sure to check your plan to see which accounts are offered. This is the best form of documentation. p. a. yex.com. I've had problems with PayFlex for both HSA and Flex Spending accounts. You already know how a PayFlex health savings account, HSA, is a great way to save for health care expenses. If you have questions about your FSA after you enroll, you may call Member Services at Employees can use it to pay for their health care expenses. Once you receive dental treatment, pay the bill with the PayFlex Card, your account debit card. I signed up in October for an effective date of 1/1/23. As a writer, her work was featured in The Associated Press, The Motley Fool and U.S. News & World Report. You can roll over all the funds in your HSA Rolling over your funds every year allows you to grow the value of your portfolio. Within the PayFlex member website, you can view your account balance, open an investment account or review recent transactions and activity. It can also happen when we receive a description of the expense from the merchant or provider that doesnt clearly tell us what you paid for. HR cannot just refund you whatever is left in your account. The PayFlex Card is your account debit card. When evaluating offers, please review the financial institutions Terms and Conditions. A dependent care FSA helps you pay for eligible child or adult day care expenses. Note: This information is general in nature for informational purposes only. You can find this form in. Please mail, fax or email the completed form to PayFlex The address, fax number and email address are on the bottom of the form. You can be reimbursed for eligible health care expenses that you, your spouse and eligible tax dependents incur during the plan year. You can always use another form of payment for your expenses and submit a claim to pay yourself back. And when you're using a desktop, you can expect the same user-friendly experience. We don't want anyone else flexing their Payflex muscles using your card. It helps make it easier for you to spend the money in your PayFlex account. Use the app. We believe everyone should be able to make financial decisions with confidence. Under Quick Links, click Manage My Debit Card(s). If you enroll in a qualified HDHP and meet other IRS criteria, you may open and contribute to an HSA. How to avoid cash withdrawal fees. After you log in to the app, select Manage to get started. Out-of-pocket expenses are those not covered by insurance or any other plan. Check with your employer for details about your plan so you can maximize your savings. Step 1: Enter the amount you want to withdraw. If you already have a PayFlex Card and you re-enroll in a limited purpose FSA for the 2022/2023 plan year - you can use the same card. Select the FSA (health care, dependent care, and/or Limited Purpose) thats right for you and choose how much you want to contribute. With PayFlex, you have the tools, services, and support to make the best decisions for your health and financial well-being. To use your card, simply . If your issue is account related, you can get help via your online account. Click . Then withdraw funds from your FSA to pay yourself back and have your payment deposited. While your card is suspended, you cant use it for that account. It gives you the info you need, when you need it. You can use the card to pay for eligible expenses. Select the "cash withdrawal" or "cash advance" option. We know that enrolling in health insurance can be challenging. A merchant or provider may not accept Mastercard. Order an additional PayFlex Card, your account debit card You can order an additional card for your spouse or dependent. 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. Click on Order a Dependent Debit Card. 01. If your health plan is covering part of the expense, wait to use the card until you know how much you owe. 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. 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. 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. How does the card work? Below are some examples. (800) 284-4885. You dont need a new card when you move from one PayFlex plan to another. Under no circumstances can your boss give the money back to you directly, according to IRS rules. If you have a TexFlex FSA, you can set up your online 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. At age 65, you will have the ability to use your HSA funds for any purpose on a taxable basis This makes funding your HSA a great way to save for retirement. All financial products, shopping products and services are presented without warranty. Can I transfer money from my PayFlex to my bank account? Money set aside in these accounts will reduce your taxable income, providing you with more value for the dollar. b'b'NNB7t/ydVh%^\J7qs#y*uV^x;J1;HQ:;:z\TEU!. (1-844-729-3539) (TTY: 711), Monday through Friday, 7 AM to 7 PM (CT) Thats money you can spend on other things you might need. By choosing an HDHP and a PayFlex HSA, youre making the right choice for your personal well-being. PayFlex Withdrawal Fee. Swipe your way to smart savings. You can either accept HSAs the old-fashioned way by supplying your client with a superbill , or do it the 21st-century way by swiping their HSA debit card through a credit card reader. You can only use the card to pay for eligible expenses. However, there is no tax penalty to make withdrawals to cover qualified medical expenses. Step 1: Enter the amount you want to withdraw. Please consult a tax advisor if you have any questions prior to completing this form. to get started. Contribute - Estimate the amount you expect to spend during the plan year on eligible out-of-pocket expenses. See why thousands of members are giving the enhanced mobile app* a "thumbs-up." If you have an HSA, you can use the card for eligible expenses that you incur after your HSA is opened. So when you select an HDHP, youre already saving. 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. 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). A Limited Purpose FSA can help you save your HSA funds for the future. 10.4. Get help when you need it. Enter your credit card PIN. No. hbbd``b` $; Hpi VM)X$@8 & Most people listen to videos like these on mute so I wasn't expecting you. Frequently asked questions How does the card work? To send documents with your claim, simply take a picture and upload it through the app. All of the money deposited into your HSA, up to the maximum annual contribution limit determined by the IRS each year, is 100% tax-deductible for federal income tax, FICA (Social Security and Medicare) tax, and state income tax (for most states). Your FSA election remains in place for the plan year. 4. Youll use the same username and password you use for the PayFlex member website. Contact us Any funds left in your FSA after the run out period will be forfeited. You can use this card to pay for certain eligible expenses. How much money can you roll over in an HSA? You have more options than you might expect. Once you create your PIN, you can use it right away. Type text, add images, blackout confidential details, add comments, highlights and more. Lacie Glover is an insurance editor and writer and a NerdWallet authority on insurance. You'll also need your card to set up your online account. 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 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. Can I withdraw money from my HSA after age 65? Visit Website. Get Directions. Click on Make an HSA Withdrawal. And PayFlex makes investing easy with a choice of funds and the facts you need, right on the website. These merchants include doctors offices, hospitals, pharmacies and hearing and vision care centers. You can spend your FSA money on medical expenses for your spouse, children or any other qualifying dependent you claim on your taxes. Before you try to spend the leftover cash, you should know whether either option applies to your FSA so you know how much you really need to use now. 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. Or your plan may only allow prescription . It helps make it easier for you to spend the money in your PayFlex account. Where can I use my PayFlex Card? Whats The Difference Between Class 2 And Class 3 NI Contributions? The card wont work at an ATM. UAH employees can take advantage of flexible spending accounts (FSAs), which are pretax reimbursement accounts administered by PayFlex for eligible medical and dependent care expenses. Our system will automatically confirm if you have enough funds available. You can also call Customer Care at 1-800-422-4661. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Expense is automatically deducted Generally, we send a request for documentation when were unable to verify if one or more of your card purchases is eligible. Please try again later. Click on Make an HSA Withdrawal. Verify your PayFlex Card purchases If you're asked to verify your card purchase is an eligible expense, you can take action online. You can only use the card at merchants and providers that accept Mastercard and health care cards. Definitely recommend rolling it over to fidelity though as you don't want to get stuck paying $5 a month with PayFlex. Simply click on the corresponding icons to visit our online vendors to purchase an eligible healthcare item. The expense may be ineligible under your plan. The PayFlex Card can give your employees instant access to their HSA to pay for eligible expenses at qualified merchants If they have an Apple or Samsung device, they can add the card to their digital wallet. You may also use your card at some discount and grocery stores. Click Order a Dependent Debit Card. Where can you withdraw money from your EBT card for free? Yes, that 20% tax sure bites, as it was your money . Once your account hits the minimum required balance for investments, you can start investing your money. Generally, Federal taxes range from 15% to 28% and Social Security taxes is currently 7.65% of your pay. Your tax rate is 25%. We cant accept a cancelled check, credit card receipt or billing statement that shows previous balance, balance forward, estimated, filed or pending insurance.. If you continue to use this site we will assume that you are happy with it. Use it for eligible health care expenses, such as doctor and dentist visits, prescriptions, hospital stays, hearing and vision care. Senior Assigning Editor | Los Angeles Times; University of California, San Diego; Microsoft. Employers are also allowed to give unused money back to workers -- but there's a catch. Despite the hassle of having to spend this extra money, FSAs are generally a good way to avoid paying taxes on medical costs. Plus, you can take your HSA with you whether you change plans, jobs, or decide to retire. . Aetna and PayFlex offer a debit card that covers out-of-pocket payments for in-network primary and specialty care and other medical and diagnostic services . This is true even if you dont cover your spouse and dependents on your health plan. You'll only need to enter the last 4 digits. Employees must re-enroll in the FSA program . Click on the Financial Center. These deductions are pretax. When you receive the PayFlex Card in the mail, call the number on the card to activate it and get your personal identification number (PIN). Use our app to scan a barcode, in-store or anywhere else. If you dont respond by that date, well have to suspend your card. Use the search bar to find specific items and services. You made a purchase in the prior year, and are now reimbursing yourself using your HSA. 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. The Instant transfer typically takes a few minutes to complete (up to 30 minutes). However, your plan may have a grace period or carryover feature, which can help reduce forfeitures. Its a fast, easy and secure way to pay. 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. 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. No. A grace period, when you can keep spending FSA money up to 2 months past the end of the plan year. The number is on the back of your PayFlex Card. You can use this card to pay for certain eligible expenses. This limit is for each FSA participant. Using your card means you dont have to pay out of pocket. This lets you withdraw funds from your HSA and deposit them into your linked bank account. You could check your balance and ask the merchant to charge your card just for the amount that you have available. So go ahead, swipe your card or use your digital wallet to pay for your health care expenses. NerdWallet strives to keep its information accurate and up to date. You can use your HSA account for a lot more than you think. Identity Theft Resolution Services include: To learn more about the Identity Theft Resolution Services, call the Mastercard Assistance Center at 1-800-MC-ASSIST (1-800-622-7747). PayFlex Card. Fastest Paying PayFlex Casinos in 2023 This reduces your taxable income. 1-844-PAYFLEX When you contribute to an FSA, that money is deducted from your pay on a pretax basis. %PDF-1.5 % 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. Click on Order a Dependent Card. So, the question of withdrawal fees is redundant in this case. 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. Don't mark up the document with a highlighter. 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. The funds roll over year to year, and the account earns interest too. It includes most expenses related to medical care, with the notable exceptions of. 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. Note: If you have multiple accounts, select your health savings account from the drop-down menu at the top of the page. To see your account balance or card transactions and activity, log in to the PayFlex member website. These include day care, before and after school programs, nursery school or preschool, summer day camp and adult day care. Send a personal check or money order directly to PayFlex. 51 0 obj <>stream This only applies to flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). When you pull out funds from your HSA for . If your FSA doesnt have a grace period or the carryover feature, you may have a run out period. After that, you may be able to use your account for any eligible healthcare expenses. When you go to withdraw PayPal payments, you can do so through a standard transfer or an instant transfer. It's like a retirement or college savings account built just for health care expenses, and we provide specialized tools that let you select and manage your investments online. The merchant may not be able to accept health care cards. 03. It helps make it easier for you to spend the money in your PayFlex account. You have more options than you might expect. Email and text message options are also available. When youre ready to pay for an eligible expense, simply provide your card for payment. And thats how an HSA can help you build a better financial future. If massage therapy services are prescribed by your physician then you can use your FSA account to pay for these services. SAM. Note: If you have multiple accounts, select your Health Savings Account from the drop-down menu at the top of the page. For dependent care expenses, the dependent care provider must sign the claim form or provide an itemized receipt. When you file Form 8889 for the reimbursing year, this amount will appear . 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 . To create or change your PIN, call 1-888-999-0121. So, you could save about 30 cents on every dollar you spend on eligible expenses. You may be charged $2 to $5 every ATM withdrawal with your prepaid card. Dependent Care FSA It's free and doesn't require cash or fees. If your FSA plan has the rollover option and you plan on leaving some in for next year, you can contribute even less. Note: If you have multiple This means, if you and your spouse are eligible to participate in a health care FSA, you may each contribute to your own FSA, up to this limit. Bank accounts. Your card may be suspended. The PayFlex Card can give your employees instant access to their HSA to . In those cases, you might want to add more. Note: If you have multiple Click on the Financial Center. Saturday, 9 AM to 2 PM (CT). Your employer may offer the PayFlex Card with your health care FSA. 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. If you havent set up your online account with PayFlex, you can get started today. Apple, iPad Air, iPad Mini, iPhone and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.