BAS’ FSA administration provides employees easy and accurate claims submission and processing. Reimbursement is sent each Tuesday for claims processed and approved the prior week. BAS sends reimbursement only if employers timely fund approved claims.
Employers can do their part to help ensure prompt FSA reimbursement by automating FSA funding payments to BAS.
Each Friday, BAS sends funds requests to employers with pending FSA reimbursement(s). The funds request details, by participant and by FSA type (health care or dependent care), the total amount of claims submitted for the week. Employers have several convenient methods for funding participants’ claims.
The most common funding methods are also the fastest:
1. Employer-directed. There are two employer-directed options for issuing FSA funds to BAS for payment.
- Wire Transfer: Employers transmit weekly FSA funding to BAS by wire transfer.
- Automated Clearing House (ACH): Employers transmit weekly FSA funding to BAS through ACH.
2. BAS directed: BAS can initiate FSA funding, through Automated Clearing House (ACH). This method further automates the FSA claims process, but keeps the employer informed in advance of the weekly debit.
For more information about our FSA programs or about establishing funding methods for your FSA plan, please contact your account manager or info@BASusa.com.