Benefit Allocation Systems provides easy and accurate flexible spending account plan services. Employees who participate in an employer’s FSA serviced by BAS should know about BAS' direct deposit option for FSA and HRA reimbursements.
Claims are processed daily and reimbursed on a weekly basis. Employees can get their reimbursements directly deposited into their bank account which ensures safe and expedited access to funds.
Getting FSA/HRA reimbursements by direct deposit is faster and more secure than receiving reimbursements by mailed check. With direct deposit, reimbursements will be initiated to an employee’s bank account on Tuesdays, and BAS will send an email confirming the transaction. Funds are generally received in the bank account within 24-48 hours.
Signing up for FSA/HRA Direct Deposit does not change an employee’s banking preferences for any other employer payments.
Direct Deposit ensures reimbursements will be available for use sooner than waiting for reimbursement by check. By eliminating checks, employees don't have to worry about postal delays, lost mail, or getting to the bank to deposit a check.
It’s simple to sign up for direct deposit:
- Login to MyEnroll.com
- Sign In with a User ID and Password (If an employee forgets a User ID or Password, instructions are provided right on the login page)
- Click the "ACH Preferences" link. This can be found on the Quick Links section of the homepage, or through the main menu. (If using the main menu, click on the Employees option, then click on the "ACH Preferences" link under the Tools section header)
- Complete & submit the online form
- BAS will send the information to BAS’ bank to verify account information
- BAS will send an email confirming Direct Deposit is active after the banking system verifies the process
Direct deposit provides fast and easy access to approved claim reimbursements.