Employers partnering with BAS for flexible spending account (FSA) services gain access to an invaluable tool for their employees that streamlines the process of determining whether specific expenses are eligible for FSA reimbursement. In this article, we explore how BAS facilitates this process, making it easier for employees to navigate FSA reimbursement requirements.
Navigating FSA Eligible Expenses:
Flexible spending accounts, whether for healthcare or dependent day care, come with specific guidelines on the types of expenses eligible for reimbursement. For healthcare FSAs, only medical care expenses are eligible, while dependent day care FSAs cover expenses related to dependent care.
BAS' User-Friendly Eligible Expense Table:
BAS simplifies the process of identifying eligible expenses with an easily accessible eligible expense table, available within the MyEnroll360 platform. This table serves as a valuable tool for determining whether an expense qualifies for FSA reimbursement when appropriately substantiated.
How to Access the Eligible Expense Table:
- Log in to MyEnroll.com.
- Navigate to the Employees section in the main menu.
- Under the Flexible Spending Accounts section, click on Health Care Expense List.
- Clicking this link opens a new window, providing access to a comprehensive table of typically reimbursable expenses.
Enhancing the FSA Reimbursement Experience:
While each FSA plan may establish its specific requirements for reimbursement, employees will find the eligible expense list to be a useful guide for understanding and navigating the FSA reimbursement process. Whether managing healthcare or dependent day care FSAs, this tool simplifies the determination of eligible expenses, enhancing the overall FSA reimbursement experience.
BAS' commitment to simplifying FSA services benefits both employers and employees. By offering a user-friendly eligible expense table within the MyEnroll360 platform, employers empower their workforce to make informed decisions regarding FSA reimbursement. This tool not only streamlines the process but also promotes transparency and efficiency in managing flexible spending accounts. BAS continues to provide innovative solutions to enhance the FSA experience, demonstrating its dedication to serving the evolving needs of employers and their employees.
Benefit Allocation Systems (BAS) provides best-in-class, online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 can Integrate with any insurance carrier for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and many others), and integrate with any payroll system for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and many others).