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You can use your card at qualified merchants where Mastercard is accepted, and where merchants can process health care cards. The card wont work at an ATM. you can process a partial refund If you have a PayFlex Health Savings Account, HSA, you can request funds and make deposits to your HSA. Any funds left in your FSA after the run out period will be forfeited. With most flexible spending accounts, funds are available on the first day of the plan year. Note: If you have multiple accounts, select your health savings account from the drop-down menu at the top of the page. Employees can use it to pay for their health care expenses. Saturday, 9 AM to 2 PM (CT). When you go to withdraw PayPal payments, you can do so through a standard transfer or an instant transfer. All you need to do is select your eligible item, swipe If your FSA doesnt have a grace period or the carryover feature, you may have a run out period. Medical spending includes expenses for hearing, vision and dental health, even if you dont have insurance for those. Enter the spouse or dependent name and click Submit. 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. You made a purchase in the prior year, and are now reimbursing yourself using your HSA. We don't want anyone else flexing their Payflex muscles using your card. It includes most expenses related to medical care, with the notable exceptions of. 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. Lacie Glover is an insurance editor and writer and a NerdWallet authority on insurance. However, you should keep all your itemized receipts, statements and Explanations of Benefits (EOBs). Here's how to withdraw money on the PayPal app: Tap Wallet. Here are a few of the ways we make your security our priority: Give us a call. You can contribute up to $2,550 to your FSA this year, so you could have a lot of unused money to spend. For 2023, the health care FSA and limited purpose FSA contribution limit is $3,050. Do not sell or share my personal information. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. FSAs are tax-advantaged accounts that can be used for medical expenses only; they're sometimes also called flexible spending accounts. Click on Order a Dependent Card. There are four key benefits to the PayFlex Card. This may include doctor and dental offices, hospitals, pharmacies, and hearing and vision care centers. Note: If you have multiple Lets begin with a high-deductible health plan HDHP for short. Lacie is a NerdWallet authority on insurance products and loves data, analytics and solving SEO mysteries. Fill out a withdrawal slip indicating the amount you would like to withdrawal from your savings account. Compare accounts and find the solution that fits you best. For . After you reach age 65 or if you become disabled , you can withdraw HSA funds without penalty but the amounts withdrawn will be taxable as ordinary income. To use your card, simply swipe and select either Debit or Credit. After you swipe the card, our system automatically confirms if you have enough funds available. The current contribution limits are $3,850 for individuals, $7,750 for families. Email and text message options are also available. Our partners compensate us. What Is a Medicare Advantage (Part C) Plan? Because most plan years are calendar years, this option usually allows you to use the money from Jan. 1 to March 15 the next year. Our partners cannot pay us to guarantee favorable reviews of their products or services. Frequently asked questions . After this, you'll get your personal identification number. Your health plan should take care of the whole you both physically and financially. Select Bank accounts. If you wish to set up a Personal Identification Number (PIN), call 1-866-898-9795. Make an HSA payment Click on the Financial Center. Spend - Once funds are in your FSA, you can use the PayFlex Card, your account debit card, to pay for your eligible expenses, if offered by your employer. Funds in your account roll over from year to year. Keep it simple with the PayFlex Mobile app Manage your account and view . Any withdrawn funds used for non-medical purposes are still subject to income taxes. to get started. 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. How do I find my PayFlex member ID number? You have more options than you might expect. If you want to upload your documentation, it must be in PDF format. So, when you use your FSA funds, its like youre saving about 30 cents on every dollar you spend. Not sure how much you have to spend? This is the FSA use-it-or-lose-it rule. Any travel for medical care you did this year. Her work has been featured by USA Today, U.S. News and World Report and The Associated Press. Use your card at qualified merchants who can process health care cards. The Standard transfer typically completes in 1 working day. What Is The Difference Between An HRA And A Qsehra? At age 65, you can withdraw your HSA funds for non-qualified expenses at any time although they are subject to regular income tax. 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). You'll also need your card to set up your online account. If your SSN is not accepted, you may need to enter the last four digits of your Employee ID number. If youre worried about identity theft after cancelling your card, you can use Mastercards Identity Theft Resolution Services at no cost. When you pull out funds from your HSA for . (1-844-729-3539) (TTY: 711), Monday through Friday, 7 AM to 7 PM (CT) However, your plan may have a grace period or carryover feature, which can help reduce forfeitures. Account . If your expense went through your medical or dental plan, youll need to send an Explanation of Benefits (EOB) from your plan. If you need a card for your spouse or dependent, you can order one through the PayFlex member website at no cost. 10.4. Instant access to your money The PayFlex Card helps make it easier for you to spend the money in your tax-advantaged account. There's just so much I wanna chat with you about on how you can plan, save, and spend smarter. Yes. You can also call Customer Care at 1-800-422-4661. Request an HSA Visa debit card for yourself or any dependent on your account, age 18 or older. 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. 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. Select the "credit" option, if necessary (you may be asked to . That's why we developed the PayFlex mobile app so you can have all your account information in the palm of your hand. Don't mark up the document with a highlighter. We use cookies to ensure that we give you the best experience on our website. HR cannot just refund you whatever is left in your account. You can also use your card at some discount and grocery stores. Note: If you have multiple accounts, select your Health Savings Account from the drop-down menu at the top of the page. If your FSA includes the carryover feature, you may be able to carry over up to $610 in unused funds to the next plan year. Health Benefits Debit Card 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. You dont need to use your card for all eligible expenses. The expense may be ineligible under your plan. He holds a Bachelor of Arts in communications and a Master of Arts in anthropology. All financial products, shopping products and services are presented without warranty. Click Complete Validation next to the bank . And enjoy all the PayFlex Card has to offer. Click on the Financial Center. Flexible Spending Arrangements (FSAs) are tax-free, "use it or lose it" savings accounts for medical and certain non-medical expenses. It helps make it easier for you to spend the money in your PayFlex account. And with PayFlex, you'll have the tools, services, and support to make the right decisions for your health and financial well-being. Most of us probably zone out during our employer's health benefits presentation. What will happen to potassium if the sample is hemolyzed? If you have an Apple or Samsung device, you can add your PayFlex Card to your digital wallet. Shop at CVS with the PayFlex Card, your account debit card You can use your PayFlex debit card to pay for things like allergy medicines, bandages, cold/cough medicines, feminine hygiene products, medicated lip balm, pain relievers, sunscreen and thermometers. This reduces your taxable income. A dependent care FSA can help pay for services like daycare, preschool, and elder care. This, in turn, may help lower your taxable income. Please refer to your employers plan for specific information about your plan. Plus, youll be prepared when you need to pay for health care expenses during the year. Mail: Mail your documentation to PayFlex. To get started, view your alerts. To confirm your PIN, re-enter your four digits. 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. On March 27, 2020, the CARES Act passed and changed the rules for OTC drugs and medicines. Your FSA coverage may end on your last day of work or it may end at the end of that month. So, you could save about 30 cents on every dollar you spend on eligible expenses. The PayFlex Card, your account debit card. However, your employer sets your carryover amount. The amount you are able to withdraw in a given year varies based on your medical costs. Two options for that extra cash. If your expense went through your medical or dental plan, youll need to send an Explanation of Benefits (EOB) from your plan. Your employer may offer the PayFlex Card with your health care FSA. Start investing in your future today with a PayFlex HSA investment 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. This lets you withdraw funds from your HSA and deposit them into your linked bank 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. I signed up in October for an effective date of 1/1/23. What can you use PayFlex for? Example: You have an annual salary of $60,000 and you decide to contribute $2,500 to a health care FSA and $2,000 to a dependent care FSA. You can use this money to pay for HSA eligible products. hZ]s8?Tu0dCaq+^v6NX`jjR$K^]IG{:$N;8r|Mstream This information may be different than what you see when you visit a financial institution, service provider or specific products site. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. 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. To get your money faster, link your bank account (set up direct deposit) After logging in, go to . Also PayFlex makes you keep $1K in cash while fidelity lets you invest 100% of your account value. This lets you withdraw funds from your HSA and deposit them into your linked bank account. It's free and doesn't require cash or fees. You'll need it to set up your online account. This only applies to flexible spending accounts (FSAs) and health reimbursement arrangements (HRAs). So when you use your FSA funds on eligible expenses, you end up saving about 30 cents on every dollar you spend. You can use your FSA funds for over-the-counter (OTC) items, supplies, drugs and medicines (if theyre considered eligible under your plan). How do I transfer money from my PayFlex card to my bank account? For a full list of whats eligible, go to www.payflex.com. Click on Make an HSA Withdrawal. 39 0 obj <>/Filter/FlateDecode/ID[<3EC4ADDF315B47999FAB81CA5F9841E0>]/Index[20 32]/Info 19 0 R/Length 86/Prev 96267/Root 21 0 R/Size 52/Type/XRef/W[1 2 1]>>stream When evaluating offers, please review the financial institutions Terms and Conditions. Type text, add images, blackout confidential details, add comments, highlights and more. Go to Account Settings. 11819 Miami St STE 200. Please mail, fax or email the completed form to PayFlex The address, fax number and email address are on the bottom of the form. In other words, if you had spent the money on an eligible purchase (like orthotic inserts) your refund would have included the full $100. Whether you're commuting to work or taking the kids to soccer practice you need a solution that offers flexibility and the power to access your healthcare funds whenever, wherever. Its quite simple, really. To withdraw money from PayPal, you'll have to log in to your account and link a debit card or bank account. How to avoid cash withdrawal fees. Enter the spouse or dependent name and click Submit. Then use it for a no-touch payment. It makes the fax hard to read. This can happen when the amount you paid doesnt match your copay amount or you paid an estimated or pending amount. No. You can use your PayFlex Card to pay for eligible health care products and services. Click Continue. No. You can use your FSA debit card only to cover eligible expenses specified by your plan. The PayFlex Card spending made simple The PayFlex Card provides a simple way to spend the money in your PayFlex account. Health Care FSA Your employer will deduct that amount from your paycheck in equal amounts each pay period. An Aetna Health Fund Health Savings Account* works like a bank account. Step 1: Enter the amount you want to withdraw. ` 7 There may be times when we ask you to show that a card purchase is eligible. It includes most expenses related to medical care, with the notable exceptions of health insurance premiums and over-the-counter medication. You can register easily with the PayFlex member website where you can learn about your account, calculate eligible expenses, and more. Or you can simply pay out of pocket and then submit a claim to pay yourself back. If you have the rollover option, youll have all of next year to spend that money, on top of any money you plan to contribute next year. 1. You can be reimbursed for eligible health care expenses that you, your spouse and eligible tax dependents incur during the plan year. Click on Make an HSA Withdrawal. 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. For full refunds, the refund amount will be equal to the sum of instalments paid to date. 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. A merchant or provider may not accept Mastercard. This limit is for each FSA participant. This is the best form of documentation. To learn what's allowed, visit an online FSA store that sells only FSA-eligible items, like FSAstore. Click on the Financial Center. Employers may set a lower limit, so you should check your plan to know how much you can contribute. Sign it in a few clicks. Just use the same username and password you use to log into your PayFlex member website. 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). Your health savings account, or HSA, is a smart money management tool that lets you set aside money tax-free to pay for eligible expenses such as your medical plan deductibles and co-insurance, prescriptions, even some over-the-counter stuff, like first aid and pain relievers, vision and dental care, and so on. A high-deductible health plan comes with a lower premium, meaning less money will come out of your paycheck for coverage. So, the question of withdrawal fees is redundant in this case. Therefore, your taxable income is less. If your health plan is covering part of the expense, you may want to wait to use the card until you know how much you owe. Click on the Financial Center. After you log in to the app, select Manage to get started. You can feel good about contributing to a health care FSA. Then withdraw funds from your FSA to pay yourself back and have your payment deposited. What if I don't have documentation or used my card in error? Most people listen to videos like these on mute so I wasn't expecting you. 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. Generally, you have 30 calendar days from the date of your status change to change your election. It must include the date(s) of service. Save - Your FSA contributions are tax-free. How does the card work? A dependent care FSA helps you pay for eligible child or adult day care expenses. 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). Check out some of the frequently asked questions below. However, you can still pay for eligible expenses out of pocket and submit a claim to pay yourself back. We're sorry. You can do this online, through the PayFlex Mobile app, or complete a paper claim form and fax or mail it to us. To learn what's allowed, visit an online FSA store that sells only FSA-eligible items, like. It depends on your plan. p. a. yex.com. Review the full list of eligible expenses and choose how to spend your funds. And employers get to decide whether or not to allow pre-tax . If your health plan is covering part of the expense, wait to use the card until you know how much you owe. When you contribute to an FSA, that money is deducted from your pay on a pretax basis. While there are no minimum contribution or balance requirements, the federal government does set limits on how much can be contributed each year. Link your bank account to transfer funds You can link one or more bank accounts to your HSA to easily transfer funds to and from your HSA. A standard transfer is free and can take between 1 and 3 business days. If so, you can use the card to pay for eligible expenses at qualified merchants. Note: Closing the account may have tax consequences. 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. Now let's get you up to speed on Flexible Spending Accounts, FSA. You can download the app from your mobile devices app store. 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 . So how do we make money? *Standard text messaging and other rates from your wireless carrier still apply. Please make sure to remember your PIN, as you wont receive a confirmation of it. Generally, we send a request for documentation when were unable to verify if one or more of your card purchases is eligible. You'll only need to enter the last 4 digits. They can assist you with the process of restoring your identity. 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. You can do this online, through the PayFlex Mobile, or complete a paper claim form and fax or mail it to us. 0 4. Simply click on the corresponding icons to visit our online vendors to purchase an eligible healthcare item. You may also use your card at some discount and grocery stores. hbbd``b` $; Hpi VM)X$@8 & This is the best form of documentation. Rick VanderKnyff leads the team responsible for expanding NerdWallet content to additional topics within personal finance. b'b'NNB7t/ydVh%^\J7qs#y*uV^x;J1;HQ:;:z\TEU!. When you report that $100, it will be taxed at 25% and you will only get $75 on your tax return. It helps you save on everyday items like contact lenses, sunscreen and bandages. No problem. 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. Click Continue. Since youre setting aside money before taxes, it can help reduce your taxable income, increase your take-home pay and improve your finances overall. You can use this card to pay for certain eligible expenses. Sign in to your HSA using digital banking at TheHSAAuthority.com. What Happens If I DonT Pay National Insurance Contributions? It must show: For prescriptions, send your detailed receipt that includes the pharmacy name, patient name, prescription name, date the prescription was filled and amount you paid. A limited Purpose FSA can help you pay dental and vision expenses before you meet your deductible. Its that easy. What most people view as routine expenses can actually be FSA-applicable.. Add your card to your digital wallet for an even more convenient way to pay. (800) 284-4885. . on the log in page of the app. If you have a health care FSA, you can use your card for eligible expenses that you incur during the plan year. PayFlex Withdrawal Fee. This may include doctor and dental offices, hospitals, pharmacies, and hearing and vision care centers. Yes. Personal care items like toilet paper and soap. Get Directions. A Limited Purpose FSA may also cover other health care expenses after you meet your deductible. Omaha, NE 68164-3642. You can do this online, through the PayFlex Mobile app, or complete a paper claim form and fax or mail it to us. Step 1: Enter the amount you want to withdraw. Youll want to provide the documentation or payment as soon as possible. When its time to decide how much goes into the next one, you can select that amount. Your ID number is your Social Security number. Have questions about your card? I was never charged an account closure fee (or if I was, I . 2023 PayFlex Systems USA, Inc. All Rights Reserved. Re: Moving HSA Advice: from PayFlex to Fidelity Fidelity has no fees Contact only Fidelity, they will step you through the process. Sometimes, depending on your bank's clearing process, it may take 3-5 . You can spend your FSA money on medical expenses for your spouse, children or any other qualifying dependent you claim on your taxes. Draw your signature, type it, upload its image, or use your mobile device as a signature pad. Complete a paper claim form and mail or fax with your documentation. 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. Use Text Banking (if you have this feature set up). Funds in your account roll over from year to year. For a full list of whats eligible, go to www.payflex.com. PayFlex is the administrator of the TexFlex Flexible Spending Accounts. endstream endobj startxref Submit a claim online. Note: If you have multiple accounts, select your health savings account from the drop-down menu at the top of the page. HSA funds can also be withdrawn for non-medical expenses like buying a home or paying with a larger down payment. %PDF-1.5 % Your election amount is simply deposited into your account and available on your card. Your employers plan determines which status change events are allowed.