Flexible Spending Accounts, Health Reimbursement Accounts- Employee Benefit Administrator

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Frequently Asked Questions — Answered

Below is a list of frequently asked questions about the services we offer. If you have a question that’s not answered here, please feel free to email us. We’ll be glad to help you find an answer.

Will I still need to keep my receipts?

Yes. Effective January 1, 2004 the IRS imposed specific requirements for Flex Card claims through a cafeteria plan. The IRS requires that every claim be documented. This documentation includes the same information that would be included for a manually submitted claim:

The Providers Name and Address

Date of Service: Note that date of payment is not sufficient

The Service Provided

Amount of Service Charge

Name of person to whom the service was provided

The only exception to this requirement is by matching claims that can reasonably be assumed to be legitimate claims to the expense. The deductible and co-pays from the employers health plan. In other words, if a claim matches the prescription, office visit co-pay (e.g. $10, 15, $20, $25), or deductible as defined in the health insurance plan, then additional documentation is NOT required. If the claim does not match these benefit parameters, manual submission after the fact of supporting documentation is required.

Note that any benefit figured on a percentage basis will require manual claim verification.

If an employee of your company is NOT on your companys insurance plan, manual claim verification will be needed with EVERY Flex Card swipe.

All over-the-counter (OTC) items purchased with the Flex Card will require manual claim verification and the burden of proof falls to the participant.

Credit card receipts, cash register receipts, and cancelled checks are not considered appropriate documentation per IRS guidelines. However, in the case of purchasing over-the-counter (OTC) medicines/drugs, cash register receipts will be permissible if the item is clearly identified on the receipt. If the receipt does not clearly identify the OTC item employees should circle/highlight the price on the receipt, cut out and attach the front of the box cover of the OTC, and submit with a completed claim form.