www.DiscoveryBenefits.com FLEXIBLE SPENDING ACCOUNT (FSA) EMPLOYEE HANDOUT AN FSA THAT SIMPLIFIES SAVINGS ONE ONLINE ACCOUNT, ONE MOBILE APP AND ONE DEBIT CARD FOR ALL OF YOUR BENEFITS AVERAGE DEBIT CARD AUTO-SUBSTANTIATION RATE OF MORE THAN 85 PERCENT EASY DOCUMENTATION UPLOADING USING OUR BENEFITS MOBILE APP THOUSANDS OF ELIGIBLE EXPENSES FOR PURCHASE AT THE FSA STORE DOWNLOAD THE APP FOR FREE ON APPLE AND ANDROID SMARTPHONES AND TABLETS Flexible Spending Account Overview A Flexible Spending Account (FSA) allows you to budget and save for qualified medical expenses incurred over the course of your plan year. Dollars invested in an FSA are tax-free. That makes an FSA a great tool for saving money, especially when big expenses are anticipated. Eligible Expenses In order to have an expense covered by your FSA dollars, that expense has to be considered eligible by the IRS. To find out which specific expenses are eligible, view our searchable eligibility list at www.DiscoveryBenefits.com/ eligibleexpenses. Using Funds For easy access to your FSA funds, you can swipe your Discovery Benefits debit card and avoid out-of-pocket costs. If you use your card at a provider with an Inventory Information Approval System (IIAS), the expense will automatically be approved at the point of sale. If the card is swiped at a merchant that meets the IRS’ 90% rule, you may need to provide documentation to show the expense is eligible. Substantiation The IRS requires FSA participants to provide documentation (e.g. an Explanation of Benefits) to show that an expense is FSA-eligible. You can easily upload documentation for a claim by logging in to your online account. You can also submit documentation by taking a photo with your phone’s camera and uploading it through the Benefits Mobile App by Discovery Benefits. ELIGIBLE EXPENSE LIST www.DiscoveryBenefits.com/eligibleexpenses FSA CALCULATOR www.DiscoveryBenefits.com/fsacalculator BENEFITS MOBILE APP VIDEO www.DiscoveryBenefits.com/mobileappvideo FSA 101 VIDEO www.DiscoveryBenefits.com/fsa101 FSA STORE www.DiscoveryBenefits.com/fsastore RESOURCES 200 10/22/18
Transcript
www.DiscoveryBenefits.com
FLEXIBLE SPENDING ACCOUNT (FSA)EMPLOYEE HANDOUT
AN FSA THAT SIMPLIFIES SAVINGS
ONE ONLINE ACCOUNT, ONE MOBILE APP AND ONE
DEBIT CARD FOR ALL OF YOUR BENEFITS
AVERAGE DEBIT CARD AUTO-SUBSTANTIATION
RATE OF MORE THAN 85 PERCENT
EASY DOCUMENTATION UPLOADING USING OUR BENEFITS MOBILE APP
THOUSANDS OF ELIGIBLE EXPENSES FOR PURCHASE
AT THE FSA STORE
DOWNLOAD THE APP FOR FREE ON APPLE AND ANDROID SMARTPHONES AND TABLETS
Flexible Spending Account OverviewA Flexible Spending Account (FSA) allows you to budget and save for qualified medical expenses incurred over the course of your plan year. Dollars invested in an FSA are tax-free. That makes an FSA a great tool for saving money, especially when big expenses are anticipated.
Eligible ExpensesIn order to have an expense covered by your FSA dollars, that expense has to be considered eligible by the IRS. To find out which specific expenses are eligible, view our searchable eligibility list at www.DiscoveryBenefits.com/eligibleexpenses.
Using FundsFor easy access to your FSA funds, you can swipe your Discovery Benefits debit card and avoid out-of-pocket costs. If you use your card at a provider with an Inventory Information Approval System (IIAS), the expense will automatically be approved at the point of sale.
If the card is swiped at a merchant that meets the IRS’ 90% rule, you may need to provide documentation to show the expense is eligible.
SubstantiationThe IRS requires FSA participants to provide documentation (e.g. an Explanation of Benefits) to show that an expense is FSA-eligible. You can easily upload documentation for a claim by logging in to your online account. You can also submit documentation by taking a photo with your phone’s camera and uploading it through the Benefits Mobile App by Discovery Benefits.
EASILY VIEW OR FILE A CLAIM THROUGH THE BENEFITS MOBILE APP OR YOUR ONLINE ACCOUNT
GET A CLAIM PROCESSED IN TWO BUSINESS DAYS
When you pay for eligible expenses out of pocket, filing a claim lets you receive reimbursement and take advantage of your pre-tax benefits. With Discovery Benefits, the claim filing process is quick and simple. The Benefits Mobile App by Discovery Benefits and your online account let you file a claim with just a few taps or clicks.
Note: You don’t need to file a claim for purchases made with your Discovery Benefits debit card. However, you may still need to submit documentation via our mobile app or online account on those claims.
THE EASIEST WAYS TO FILE CLAIMSBenefits Mobile AppYou can file claims and submit documentation in seconds using the Benefits Mobile App. Our app is the quickest and easiest method for filing claims and submitting documentation. Just use your phone’s camera to take a picture of documentation and upload it on the spot.
The app also allows you to:• Get instant notifications on the status of your claims.• Check your balance and view account activity.• Report a card as lost or stolen to keep your account secure.• Determine 213(d) eligible expenses by using the eligible
expense scanner and your phone’s camera.
Online AccountYou can also file claims through your online account by clicking the “File A Claim” button within the “I Want To” menu on the homepage of your online account.
Note: You may also file a claim by submitting an Out-of-Pocket Reimbursement Request Form and supporting documentation via fax or mail.
ABILITY TO REQUEST ADDITIONAL CARDS FOR A SPOUSE OR ELIGIBLE DEPENDENTS FOR FREE
NO FEES FOR LOSTOR STOLEN CARDS
The Benefits Debit CardThe Discovery Benefits debit card is the fastest and most convenient way to pay for eligible expenses. The debit card makes it easy to access funds in your pre-tax benefits accounts, reducing your out-of-pocket costs. At many merchants, it also simplifies the way expenses are verified for eligibility.
How It WorksSwipe your benefits debit card to instantly pay for eligible expenses with funds from your benefits accounts. Make sure to swipe your card before your final service date to ensure funds pull from your current plan year. Where you swipe the card will determine whether any steps are needed after that. In addition to using your benefits debit card to pay for services at your healthcare provider’s office, you can also use it at the following types of merchants:
IIASMany merchants provide IRS-required information for documentation right at the point of sale through an Inventory Information Approval System (IIAS). An IIAS merchant auto-substantiates the claim, so you won’t need to provide additional documentation on qualifying expenses.
90% MerchantsOur debit card also works at pharmacies or drug stores that meet the IRS’ 90 percent rule. At least 90 percent of the gross sales at these merchants come from eligible medical expenses. For a full list of IIAS and 90 percent rule merchants, visit www.DiscoveryBenefits.com.
Submitting Documentation for Debit Card TransactionsOccasionally, documentation will be needed to verify the eligibility of an expense paid for on your debit card. Even places like doctors’ and dentists’ offices may require you to submit documentation because some expenses available at these facilities may not be IRS-eligible (e.g. cosmetic procedures, teeth whitening).
When Documentation Isn’t Needed• When used at an IIAS merchant• When used for recurring expenses
that match the provider and dollar amount for previously substantiated claims
• When used for co-payments tied to the account holder’s health plan (Note: These amounts need to be communicated to Discovery Benefits by your employer)
• When used to access HSA funds
If none of the above criteria apply, you’ll be notified via email or mail that documentation is needed.
What to SubmitWhen submitting documentation for a debit card transaction, an Explanation of Benefits (EOB) from your insurance company will typically be your best bet, as it contains all the information you need to substantiate a claim.
But, when in doubt, the IRS has identified the criteria for what needs to be included when submitting documentation for eligible expenses: • Name of the provider/merchant• Date(s) of service• Type(s) of service• Amount (after insurance, if applicable)• Name of person who received the
services (if the account covers dependents)
How to Submit You can submit documentation in seconds using the Benefits Mobile App by Discovery Benefits. Our app is the quickest and easiest way to submit documentation because it lets you use your phone’s camera to take pictures of your documents and upload them on the spot.
You can also submit documentation through your online account or via fax or mail. No matter how you choose to submit documentation, we’ll process your claim in two business days.
DOWNLOAD THE APP FOR FREE ON APPLE AND ANDROID SMARTPHONES AND TABLETS
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Watch our Easy Substantiation video at www.DiscoveryBenefits.com/easysubstantiation to learn more about submitting documentation for debit card transactions.
Access your benefits on the go 24/7 with the Benefits Mobile App by Discovery Benefits. Our free app gives you convenient, real-time access to all your benefits accounts in one spot. This makes it easy to use your hard-earned dollars and view recent account activity without ever needing to call in.
The Benefits Mobile App keeps your benefits always within reach. Want to know the status of a recent claim or easily check the balance of your accounts? Log in to our secure app to get answers to those questions and so many more — wherever and whenever you want.
WITH OUR BENEFITS MOBILE APP, YOU CAN:
www.DiscoveryBenefits.com
CHECK YOUR BALANCE AND VIEW ACCOUNT ACTIVITY.
REPORT A CARD AS LOST OR STOLEN.
RESET LOGIN CREDENTIALS.
FILE A CLAIM AND UPLOAD DOCUMENTATION IN SECONDS USING YOUR PHONE’S CAMERA.
DOWNLOAD THE APP FOR FREE ON APPLE AND ANDROID SMARTPHONES AND TABLETS
SECURITY ON THE GO OUR MOBILE APPS USE SECURE ENCRYPTION AND WON’T STORE PICTURES ON YOUR PHONE, KEEPING YOUR DOCUMENTATION SAFE AND SECURE.
BENEFITS MOBILE APPEMPLOYEE HANDOUT
ACCESS YOUR BENEFITS ANYTIME, ANYWHERE
BENEFITS MOBILE APP 101 VIDEOwww.DiscoveryBenefits.com/mobileappvideo
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LOG IN WITH YOUR FINGERPRINT.
GET INSTANT NOTIFICATIONS ON THE STATUS OF YOUR CLAIMS.
EASILY MOVE FUNDS FROM YOUR HSA INTO YOUR BANK ACCOUNT TO COVER ELIGIBLE EXPENSES.
VIEW CURRENT HSA INVESTMENTS BALANCE, RECENT ACTIVITY AND RATE OF RETURN.
SCAN AN ITEM’S BAR CODE WITH YOUR PHONE’S CAMERA TO DETERMINE IF IT’S AN IRS CODE SECTION 213(D) ELIGIBLE EXPENSE.
