Disclaimer: NerdWallet strives to keep its information accurate and up to date. If the person leaves their job, the HSA (and any money in it) goes with the employee They are free to continue using the money for medical expenses and/or move it to another HSA custodian. Enter the irst and last name of your spouse or dependent Submit. So, you could save about 30 cents on every dollar you spend on eligible expenses. If you select debit, youll need to enter a Personal Identification Number (PIN). Then withdraw funds from your FSA to pay yourself back and have your payment deposited. For . Thats right this is the only tax- free financial account where you can gain interest and save money while spending on qualified health expenses. You, your spouse, or dependents are eligible for using the FSA for qualifying expenses. Or those high dollar expenses like surgery, orthodontia, and hearing aids. There's just so much I wanna chat with you about on how you can plan, save, and spend smarter. This is a good process with any account transfer, the company receiving the money has the incentive to make things go smoothly. You can do this online, through the PayFlex Mobile, or complete a paper claim form and fax or mail it to us. A high-deductible health plan can be combined with a Health Savings Account (HSA). 4. After that, you may be able to use your account for any eligible healthcare expenses. 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). Note: If you have multiple Step 1: Enter the amount you want to withdraw. You can invest it, and it . Make an HSA payment Click on the Financial Center. You can order up to nine additional cards. Don't mark up the document with a highlighter. Many or all of the products featured here are from our partners who compensate us. 24/7 access to Mastercards certified resolution specialists, Internet monitoring to proactively detect stolen personally identifiable information and compromised confidential data online, Assistance from a specialist with notification to all three major credit reporting agencies to place blocks on cardholders records and obtain free credit reports, Assistance with completing paperwork to alert various parties of the potential fraud, Education about how identity theft can occur and protective measures to avoid further occurrences. First, personal HSA contributions using after-tax money may be federal income tax-deductible. PayFlex Mobile app*: Log in to the PayFlex Mobile app. Click Complete Validation next to the bank account you wish to validate. Your employer may offer the PayFlex Card with your health care FSA. If your FSA plan has the rollover option and you plan on leaving some in for next year, you can contribute even less. These expenses are so that you and, if married, your spouse can work, look for work or attend school full-time. This means your contribution comes out of your paycheck before Federal, Social Security and in some cases, state taxes are deducted from your pay. Expense is automatically deducted Any withdrawn funds used for non-medical purposes are still subject to income taxes. If thats the case, youll only have to worry right now about the money in excess of your rollover limit. 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. You can continue to use your HSA even if you lose your job. Generally, we send a request for documentation when were unable to verify if one or more of your card purchases is eligible. 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. It depends on your plan. Send a personal check or money order directly to PayFlex. 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. Visit Website. The card itself may have restrictions on where you can spendand on what. A limited Purpose FSA can help you pay dental and vision expenses before you meet your deductible. Apple, iPad Air, iPad Mini, iPhone and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. For dependent care expenses, the dependent care provider must sign the claim form or provide an itemized receipt. This card is what you'll use to pay for eligible healthcare expenses. This information may be different than what you see when you visit a financial institution, service provider or specific products site. Get help when you need it. It helps make it easier for you to spend the money in your PayFlex account. 03. Any funds left in your FSA after the run out period will be forfeited. We're here to help Monday through Friday, 7 AM to 7 PM CT and Saturday, 9 AM to 2 PM CT. And make sure to download the PayFlex mobile app to manage your account wherever, whenever. And PayFlex makes investing easy with a choice of funds and the facts you need, right on the website. Our opinions are our own. 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. Dont have the card? Get it today from the App Store or Google Play. Definitely recommend rolling it over to fidelity though as you don't want to get stuck paying $5 a month with PayFlex. This is an IRS rule. You can use your FSA funds for over-the-counter (OTC) items, supplies, drugs and medicines (if theyre considered eligible under your plan). Here is a list of our partners and here's how we make money. Like a 401 (k) retirement account, the HSA is yours to keep. This can happen when the amount you paid doesnt match your copay amount or you paid an estimated or pending amount. Select the FSA (health care, dependent care, and/or Limited Purpose) thats right for you and choose how much you want to contribute. 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. Just pay for those expenses out of pocket. 7:00 AM - 7:00 PM. On March 27, 2020, the CARES Act passed and changed the rules for OTC drugs and medicines. Your card is good for five years as long as youre a PayFlex member. We have to suspend cards when we dont receive information from you to show that a card purchase is eligible. Primary hours. The merchant may not be able to accept health care cards. Medicines and drugs from other countries. 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). When evaluating offers, please review the financial institutions Terms and Conditions. When you contribute to an FSA, that money is deducted from your pay on a pretax basis. You'll also need your card to set up your online account. 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. 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. This generally includes doctor and dental offices, hospitals, pharmacies, and hearing and vision care centers. If youre unable to use your card, you can use another form of payment. "t;#/~0 , Please try again later. Thats money you can spend on other things you might need. After you log in to the app, select Manage to get started. When you go to withdraw PayPal payments, you can do so through a standard transfer or an instant transfer. See why thousands of members are giving the enhanced mobile app* a "thumbs-up." It's free and doesn't require cash or fees. You can do this online, through the PayFlex Mobile app, or complete a paper claim form and fax or mail it to us. 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. If your SSN is not accepted, you may need to enter the last four digits of your Employee ID number. An Aetna Health Fund Health Savings Account* works like a bank account. 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. Within the PayFlex member website, you can view your account balance, open an investment account or review recent transactions and activity. Submitting a claim through the PayFlex Mobile app . With PayFlex, you have the tools, services, and support to make the best decisions for your health and financial well-being. So, you can't withdraw money from your online casino account if that's what you're looking for. 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. Account Settings (at the top of the page) and click . These include deductibles, coinsurance, co-pays, and over-the-counter (OTC) items. Now its easier than ever to manage your PayFlex account on the go. Fill out a withdrawal slip indicating the amount you would like to withdrawal from your savings account. To learn what's allowed, visit an online FSA store that sells only FSA-eligible items, like FSAstore. You can receive tax-free distributions from your HSA to pay or be reimbursed for qualified medical expenses you incur after you establish the HSA. Enter your credit card PIN. to get started. So, the question of withdrawal fees is redundant in this case. If you continue to use this site we will assume that you are happy with it. Sign in to your HSA using digital banking at TheHSAAuthority.com. 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. How to avoid cash withdrawal fees. 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. However, you can still pay for eligible expenses out of pocket and submit a claim to pay yourself back. Complete a paper claim form and mail or fax with your documentation. You can use this card to pay for certain eligible expenses. Once the plan year is over, that money is gone. Well then cancel your card and send you a new one. You can spend your FSA money on medical expenses for your spouse, children or any other qualifying dependent you claim on your taxes. Click on Trouble logging in? Then you can pay yourself back with your FSA through the PayFlex Mobile app or website. 01. The turnaround time is typically three to five business days from the date the claim is processed. You can also use it to pay for medical, dental and vision bills, including telehealth and COVID-19 treatment. For this reason, we ask that you please contact your employer or on-site administrator before contacting Paychex. Though the rollover option will likely be available next year, youll have to spend this years funds before you dip into next years. Edit your payflex claim form online. Draw your signature, type it, upload its image, or use your mobile device as a signature pad. 1. Get Directions. When you contribute to your HSA with the money you save from your lower premiums, you give yourself tax-free dollars. Verify your PayFlex Card purchases If you're asked to verify your card purchase is an eligible expense, you can take action online. These include day care, before and after school programs, nursery school or preschool, summer day camp and adult day care. 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. 51 0 obj <>stream If so, you can use the card to pay for eligible expenses at qualified merchants. Medical spending includes expenses for hearing, vision and dental health, even if you dont have insurance for those. Once you order a card, you should get it within 10 to 15 business days. Click on Make an HSA Withdrawal. 11819 Miami St STE 200. While there may be one plan with this benefit, it's unavailable in all areas or for all beneficiaries. You contribute to an FSA with pretax money from your paycheck. 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. We use cookies to ensure that we give you the best experience on our website. You can enroll in a Limited Purpose FSA if you have a Health Savings Account (HSA). How does the card work? This lets you withdraw funds from your HSA and deposit them into your linked bank account. Most of us probably zone out during our employer's health benefits presentation. Click Complete Validation next to the bank . A healthcare FSA lets you use pre-tax dollars to pay for eligible healthcare expenses that aren't covered by your medical plan. Plus, you can take your HSA with you whether you change plans, jobs, or decide to retire. However, this does not influence our evaluations. Sometimes, depending on your bank's clearing process, it may take 3-5 . Use the search bar to find specific items and services. PayFlex Card. Two options for that extra cash. You should contact your Human Resources or Benefits Department for more information. Employers may set a lower limit, so you should check your plan to know how much you can contribute. 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. Your employer may offer the PayFlex Card with your health care FSA. 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. Enter the first and last name of your spouse or dependent name and click Submit. If your issue is account related, you can get help via your online account. . This lets you withdraw funds from your HSA and deposit them into your linked bank account. It must show: Generally, we wont ask you to send information for your prescriptions. To create or change your PIN, call 1-888-999-0121. You can enable push notifications to receive automated alerts about your account activity. Check your card's expiration date Your card is valid for five years, as long as you're an active member. How do I find my PayFlex member ID number? 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. A grace period, when you can keep spending FSA money up to 2 months past the end of the plan year. Download the app today from your mobile device's app store. 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. This change only applies to OTC drugs and medicines you paid for after December 31, 2019. Contribute - Estimate the amount you expect to spend during the plan year on eligible out-of-pocket expenses. 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 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. 1-844-PAYFLEX You can contribute money from each paycheck into your HSA. 6. Under Quick Links, click Manage My Debit Card(s). If you spend the entire balance and leave the company before contributing the total amount agreed, you generally aren't required to pay back the funds.As long as you are an employee at the time expenses are incurred and claims are submitted during the flex plan year, you are eligible for the full . After you incur an eligible expense, you can: *Standard text messaging and other rates from your wireless carrier still apply. If you have a PayFlex FSA or HRA, you can use the app to submit a claim to pay yourself back for an eligible expense you paid out of pocket. If you want to upload your documentation, it must be in PDF format. Funds in your account roll over from year to year. PayFlex is the administrator of the TexFlex Flexible Spending Accounts. This gives you more time to submit claims for eligible expenses that you incurred during the plan year. Flexible Spending Arrangements (FSAs) are tax-free, "use it or lose it" savings accounts for medical and certain non-medical expenses. Your card may be suspended. Your FSA likely has one of these options for excess money in the account, but it cannot have both under IRS rules. Submit a claim online. Or your plan may only allow prescription expenses. Spending money in your account is easy with the PayFlex Card. Check out the list of common eligible health care expenses.