Flexible Spending Accounts, Health Reimbursement Accounts- Employee Benefit Administrator

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Easy FSA Management

Medcom’s FSA management service offers distinct advantages over other administration firms. An important advantage is that we use debit card technology to allow participants to access their accounts at the time of purchase instead of waiting to file a claim for reimbursement.

Statistically only about 17% of employees take advantage of employer sponsored Flexible Spending accounts, regardless of the tax savings, Why?

With the Medcom debit card:

Without the Medcom Debit Card:

No out of pocket expenses for employees for eligible expenses.

Cannot afford to pay twice. (funds are payroll deducted and then expenses are paid out of pocket by the employee)

No claim forms to fill out and mail.

Inconvenient to file claims forms

No waiting for reimbursement.

Wait weeks for reimbursement.

Risk forfeiture of account balance.

Medcom’s debit card increases employee interest in FSA’s by making participation more convenient than ever before because it reduces the need to file claims. Medcom’s debit card system electronically accesses a participant’s account to reimburse qualified medical, dependent care and/or transportation expenses. Medcom’s debit card is accepted by nearly 90% of qualified providers.

Here’s how it works…

Eligible employee enrolls in the FSA Plan by the enrollment deadline date

Employee receives debit card by the coverage effective date,

Employee incurs eligible expense

Employee pays provider with debit card†

Medcom's automated system:

Determines a “qualified” provider
Checks for adequate cash in the plan master account

Administrator receives claim transaction electronically

Works just like a debit card, only the “bank account” consists of funds employees have set aside in their health care, or child care FSA accounts.

† Participant may submit a paper claim if Provider does not take the debit card.