Flexible Spending Accounts
Our organization was one of the first in the nation to offer a debit card solution for flexible spending account plans. Our card provides "multi-purse" technology -- meaning that individual flex account balances are all maintained on a single debit card. Perhaps the greatest benefit to using our flex debit card is that you never pay any out-of-pocket money for qualified expenses.
In addition, we now offer daily claim processing with direct deposit reimbursements to your checking or saving account. Integrating an FSA or HRA to your company’s benefit package helps employees and puts cash back into your operating budget.
At the beginning of each plan year, eligible employees elect how much to contribute to each account. As the plan sponsor, you collect and remit these funds to BenefitData for disbursement. The deposit each pay-period includes the total dollar amount withheld from employee paychecks for the plan, in addition to any employer contributions.
Service Features
- Multi-purse debit card for eligible expenses. Each debit card (either for employees or their dependents) maintains multiple account balances in real-time.
- Online claim submission for out-of-pocket expenses. Our website prompts you for information required to complete an online reimbursement claim.
- Same-day processing of submitted claims. Those claims received prior to our cutoff are processed that night.
- Direct deposit reimbursement to bank accounts. Approved reimbursements are sent to checking or other accounts.
- Online access to account information. Account balances, transactions, and other data are updated in real-time.
Premium Only Plans
Typically the foundation of the plan, this account allows for certain employee-paid group insurance premiums to be paid with pre-tax dollars.
Health Care / Medical
Employees set aside a portion of tax-free dollars to purchase a wide variety of qualified medical expenses, such as doctor co-pays, prescriptions, eye care, and over-the-counter medicines.
Dependent Care
Expenses for children under the age of 13 or for dependent adults incapable of self care to enable the employee to remain employed, search for employment, or attend college as a full-time student.
Available Accounts
- Premium Only Plans
- Health Care (Medical)
- Dependent Care
- Commuter & Parking
- Individual Premium
