PDF PayFlex Flexible Spending Account Paying for eligible dental expenses Pay with your PayFlex Card When you use it, your expense is automatically paid from your account. While you can't have any back, there are two cases where . If HSA funds are withdrawn for non-medical use before age 65, some penalties apply: funds withdrawn early lose their tax-exempt status and are . Most people listen to videos like these on mute so I wasn't expecting you. The exception is if you have any large expected medical costs, such as a planned surgery or new baby, coming in the next year. For a full list of whats eligible, go to www.payflex.com. Keep in mind that some merchants may ask you to select Debit. This means youll need to enter your PIN to complete the transaction. You can submit a withdrawal request form to receive funds (cash) from your HSA. Many or all of the products featured here are from our partners who compensate us. With the PayFlex mobile app, you can check your account balances, payments and deposits, submit claims for reimbursement and pay providers directly from your account. 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. Click on Make an HSA Withdrawal. Contribute - Estimate the amount you expect to spend during the plan year on eligible out-of-pocket expenses. It gives you the info you need, when you need it. You can upload or fax your documentation to us. 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. Funds in your account roll over from year to year. Lets begin with a high-deductible health plan HDHP for short. Employees can use it to pay for their health care expenses. Is there confession in the Armenian Church. You can avoid paying taxes by continuing to use the funds for qualified medical expenses. Use Text Banking (if you have this feature set up). Pre-qualified offers are not binding. The turnaround time is typically three to five business days from the date the claim is processed. Theres no fee to download the app. Generally, we send a request for documentation when were unable to verify if one or more of your card purchases is eligible. Flexible spending arrangements (FSAs) can help you spend less on health care, but only if you use yours correctly by spending all the money in it before a year-end deadline. Eligible expenses may also include prescriptions and OTC items for dental and vision care. However, this does not influence our evaluations. You can upload them to your online account or via the mobile app to verify your card purchases. All financial products, shopping products and services are presented without warranty. How do I find my PayFlex member ID number? (800) 284-4885. For this reason, we ask that you please contact your employer or on-site administrator before contacting Paychex. Note: If you dont send an EOB, itemized receipt or statement with your claim, well deny it. You can use this card to pay for certain eligible expenses. Yes, that 20% tax sure bites, as it was your money . Do not sell or share my personal information. And employers get to decide whether or not to allow pre-tax . You can do this online, through the PayFlex Mobile app, or complete a paper claim form and fax or mail it to us. While you cant have any back, there are two cases where you may get a little extra time to spend your FSA cash: A rollover option, where you can move up to $500 to next years balance. Pay your provider You may pay your provider directly from your account. But did you know you can invest your funds to save even more? You can use bank transfer casinos for withdrawals. Read on to learn more about how FSAs can benefit you! 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 The PayFlex Card is your account debit card. Your card may be suspended. Not sure which account is right for you? Sometimes, depending on your bank's clearing process, it may take 3-5 . If your plan includes a PayFlex Card, you'll use that to register your account on the PayFlex member website. PayFlex is the administrator of the TexFlex Flexible Spending Accounts. Order an additional PayFlex Card for your spouse or dependent After logging in, click on Account Settings and then select PayFlex Card. It is now late February and I still have not received my Flex Spending card. You can use your card at qualified merchants where Mastercard is accepted, and where merchants can process health care cards. Under no circumstances can your boss give the money back to you directly. You can use this money to pay for HSA eligible products. Sign in to your HSA using digital banking at TheHSAAuthority.com. However, your plan may have a grace period or carryover feature, which can help reduce forfeitures. Unused Commuter Benefits: Where Does the Money Go? | WageWorks Some plans include a debit card so you can easily pay from your FSA at the time of service. A $10 fee is charged for replacing a lost or stolen card. These include deductibles, coinsurance, co-pays, and over-the-counter (OTC) items. Select the FSA (health care, dependent care, and/or Limited Purpose) thats right for you and choose how much you want to contribute. 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. How do I transfer money from my PayFlex card to my bank account? Choosing the right health plan can be easier than you might think. PDF Paying yourself back from your PayFlex FSA - nylbenefits.com (1-844-729-3539) (TTY: 711), Monday through Friday, 7 AM to 7 PM (CT) 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. The app is supported by the following devices: iOS version 10 or above on iPhone 5S, iPad Air, iPad Mini 2 or newer models, Android version 7.0 Nougat or above on phones or tablets, View your account balance, deposits and payments, View your PayFlex Card purchases and submit documentation (if applicable), View account alerts and PayFlex contact information, Pay your health care provider directly from your HSA, Get protected access to your account information, Use the same secure username and password you use on this website. on the log in page of the app. Where can you withdraw money from your EBT card for free? You can use this card to pay for certain eligible expenses. Disclaimer: NerdWallet strives to keep its information accurate and up to date. Many banks limit the amount of money you can withdraw from an ATM on a single day. Support for Paychex Clients and Employees Click on the Financial Center. PDF PayFlex HSA Quick Reference Guide - Aetna HSAs are tax-advantaged in three ways. You also need to notify us of any suspected fraud within 10 days. For example, your card might not work if you try to use it at a supermarket or convenience store If you cant run a transaction using your HSA card, you will have to submit your expenses for reimbursement after the fact. When you contribute to your HSA with the money you save from your lower premiums, you give yourself tax-free dollars. It's good for five years. So, you can't withdraw money from your online casino account if that's what you're looking for. And use our simple barcode scanner while you're shopping to see which products are eligible expenses. Get Directions. Read more. 2023 PayFlex Systems USA, Inc. All Rights Reserved. A standard transfer is free and can take between 1 and 3 business days. Your plan administrator may have coupon codes or special deals so you can get more for your tax-free dollar, so head to your online FSA portal to find out first. Each FSA has its own contribution limit, which is set by the Internal Revenue Service (IRS). Can an employee use their HSA for non-medical expenses? 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. Enter the spouse or dependent name and click Submit. A Limited Purpose FSA may also cover other health care expenses after you meet your deductible. We're here to help Monday through Friday, 7 AM to 7 PM CT and Saturday, 9 AM to 2 PM CT. After this, you'll get your personal identification number. Heres how it works. If you leave a job with money remaining in your FSA and you're eligible to elect COBRA, you'll have an opportunity to continue to make your regular FSA contributions. We know that enrolling in health insurance can be challenging. Then withdraw funds from your FSA to pay yourself back and have your payment deposited. Your employers plan determines which status change events are allowed. So if you have any left toward the end of the year, youll need to figure out when and how to spend it. NerdWallet strives to keep its information accurate and up to date. But you'll make these contributions with after-tax funds rather than pre-tax funds, and the employer can charge an administrative fee of up to 2%. You have two ways to . How to Get a Flex Card on Medicare | Medigap.com Member Login | PayFlex Then enter your card number followed by the # sign. Tap Transfer Money. Limited Purpose FSA 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. Swipe your way to smart savings. How do I withdraw money from my PayFlex HSA? If you want to upload your documentation, it must be in PDF format. Your employer will let you know how and when to submit claims. After you log in to the app, select Manage to get started. Payflex FAQ's | Get Answers to Your Questions This is true even if you dont cover your spouse and dependents on your health plan. PDF The PayFlex Card, your account debit card 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 . Once you finish these steps, your card will be activated. All you need to do is select your eligible item, swipe For 2023, I switched to a Flex Spending account. And if you're over the age of 55, you can make a catch-up contribution of $1,000. Flexible spending accounts (FSAs) allow you to reduce your tax burden and increase your take home payable income, while you set aside money for eligible medical expenses. . The PayFlex Card, your account debit card. If you continue to use this site we will assume that you are happy with it. A dependent care FSA can help pay for services like daycare, preschool, and elder care. If you dont respond by that date, well have to suspend your card. 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. Enter the first and last name of your spouse or dependent name and click Submit. Click . How to avoid penalties on an HSA withdrawal - Benefit Resource The PayFlex Card spending made simple The PayFlex Card provides a simple way 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. As a writer, her work was featured in The Associated Press, The Motley Fool and U.S. News & World Report. Yes. Flexible Spending Accounts (FSAs) for Individuals | PayFlex - Aetna Then you would pay the balance with another form of payment. 4. Yes. To see your account balance or card transactions and activity, log in to the PayFlex member website. Not sure how much you have to spend? Or you can simply pay with cash, check or credit card, and then submit a claim to pay yourself back. You can process multiple refunds up to the total value of the original order i.e. What if I don't have documentation or used my card in error? 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. ONE debit card for your FSA and all your other benefits. Here's how to withdraw money on the PayPal app: Tap Wallet. Select the "credit" option, if necessary (you may be asked to . ` 7 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). Insert your credit card into an ATM. And if you have an HSA investment account you can view your balance, fund allocations, and performances right on the app. 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. Therefore, your taxable income is less. If you havent set up your online account with PayFlex, you can get started today. If you have an HSA through your employer, you can make pre-tax payroll contributionsthis type of contribution saves more on taxes than tax-deductible after-tax contributions. I signed up in October for an effective date of 1/1/23. Any funds left in your FSA after the run out period will be forfeited. What will happen to potassium if the sample is hemolyzed? Once your account hits the minimum required balance for investments, you can start investing your money. Fill out a withdrawal slip indicating the amount you would like to withdrawal from your savings account. You can deposit funds into your HSA or request funds from your HSA. However, your plan may have a grace period or carryover feature, which can help reduce forfeitures. 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. So if life throws you a curveball, your HDHP and HSA will help keep you covered. By the time we get to the health savings account (HSA . Check out the list of common eligible health care expenses. Some employers may also offer the PayFlex Card with a dependent care FSA. 3. You can use the card to pay for eligible expenses. Then you can pay yourself back with your FSA through the PayFlex Mobile app or website. HSA accounts can be used for way more than you think - USA TODAY Home | TexFlex It depends on your plan. You can spend your FSA money on medical expenses for your spouse, children or any other qualifying dependent you claim on your taxes. Simply choose your eligible expense item and use your card to pay from your PayFlex account. . Enter the irst and last name of your spouse or dependent Submit. Any travel for medical care you did this year. If you decide to send funds to yourself, you can choose to transfer the funds to your bank account (if youve linked an account) or request a check. 20 0 obj <> endobj If you have a PayFlex HSA, you can transfer funds through the app. We use cookies to ensure that we give you the best experience on our website. So when you select an HDHP, youre already saving. 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. We know that many people live life on the go. Make an HSA payment Click on the Financial Center. Omaha, NE 68164-3642. Your plan administrator may have coupon codes or special deals so you can get more for your tax-free dollar, so head to your online FSA portal to find out first. Can You Atm Cash From Health Savings Card - BikeHike How do I check my PayFlex balance? - Pfeiffertheface.com Also PayFlex makes you keep $1K in cash while fidelity lets you invest 100% of your account value. When you go to withdraw PayPal payments, you can do so through a standard transfer or an instant transfer. Health care and limited-purpose FSA participants be sure to have your TexFlex debit card nearby. While your card is suspended, you cant use it for that account. Remember, your funds don't always roll over, so be sure to spend it all by the end of the plan year. Fuel is eligible for transportation to and from medical care, up to the allowed mileage rate. 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. Be sure to review your plan to find out exactly whats eligible. Note: If you have multiple accounts, select your health savings account from the drop-down menu at the top of the page. I was charged one fee by PayFlex which was reimbursed by fidelity. Contact us If you request a rollover, the HSA custodian will send the funds to you via check or transfer to your personal bank account (not your HSA). Aetna Benefits Mastercard Prepaid Card PDF Welcome to mypayflex.com Quick Reference Guide - Washington, D.C. Order an additional PayFlex Card, your account debit card You can order an additional card for your spouse or dependent. Check your card's expiration date Your card is valid for five years, as long as you're an active member. For . 9. If youre unable to use your card, you can use another form of payment. However, you can still pay for eligible expenses out of pocket and submit a claim to pay yourself back. Most FSA plans come with a debit card you can use for qualified expenses, but if yours doesnt, pay close attention to your claims window. 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. Edit your payflex claim form online. In 2011, Aetna acquired PayFlex to support its existing consumer-directed product offerings. Add your card to your digital wallet for an even more convenient way to pay. Eligible expenses may include doctor and dentist visits, hospital stays, prescriptions, and hearing and/or vision care. 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. Where can I use my PayFlex Card? The funds in an HSA can be used for general non-medical purposes, without penalty, once the employee reaches age 65. Saturday, 9 AM to 2 PM (CT). 03.752.1-ST B (4/20) . Learn more about the PayFlex Card & PayFlex App, Learn more about the PayFlex Card and PayFlex Mobile, PayFlex Individual Health Savings Account (HSA), Employer-sponsored Health Savings Account (HSA), Health Care Flexible Spending Accounts (FSAs), Dependent Care Flexible Spending Accounts (FSAs). Most of us probably zone out during our employer's health benefits presentation. You can feel good about contributing to a health care FSA. UAH - Human Resources - Flex Spending This lets you withdraw funds from your HSA and deposit them into your linked bank account. How to avoid cash withdrawal fees. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. You'll only need to enter the last 4 digits. Fax: Fax your documentation to PayFlex. Keep it simple with the PayFlex Mobile app Manage your account and view . These expenses are so that you and, if married, your spouse can work, look for work or attend school full-time. Click Order a Dependent Debit Card. Call 1-888-678-7646 (TTY: 711). This influences which products we write about and where and how the product appears on a page. Any unused pre-tax funds will be forfeited to your employer, and any post-tax funds will be refunded to you at the end of the ninety (90)-day period. You can use your FSA debit card only to cover eligible expenses specified by your plan. If your expense didnt go through your medical or dental plan, you can send an itemized receipt or statement for the expense. When you receive your PayFlex Card in the mail, call the number on the card to activate it and get your personal identification number (PIN). Health Care FSA Your tax rate is 25%. Then use it for a no-touch payment. When evaluating offers, please review the financial institutions Terms and Conditions. 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. . We don't want anyone else flexing their Payflex muscles using your card. Account . You may still be able to submit claims for eligible expenses that you incurred during the time you had coverage. Generally, funds left in an FSA at the end of the year are forfeited This is the FSA use-it-or-lose-it rule. 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).