Flexible Spending Accounts Features
BAS got its start in 1989 by providing Flexible Spending Account (“FSA”) administration. Today, BAS’ well-honed FSA processing and reimbursement processing is second to none. The combination of our daily processing, weekly claims reimbursement, debit cards, and no minimum claim expense requirement for reimbursement provides employees with the highest level of satisfaction.
Daily Claims Processing
BAS processes claims daily and always has all claims submitted on time, processed on time for the weekly reimbursement process. Participants may send their claims to BAS via (1) Mail, (2) Toll-free fax, or (3) Online.
Employee participants may choose to receive their FSA claim reimbursements via paper check mailed to their homes or direct deposit to the bank account of their choice. Regardless of the participant’s reimbursement mode, BAS will not charge your organization differently for FSA administration service.
Whether participants choose paper checks or direct deposit, the mailing of checks and transmissions of direct deposit funds occurs weekly each Tuesday. Additionally, BAS mails to each participant’s home (who was provided a reimbursement) a paper explanation of benefits describing the items paid or denied as part of the week’s reimbursement process.
BAS offers the Benny™ Prepaid Benefits Card, developed by Evolution Benefits, the leader in innovative payment services, with our administrative program for Flexible Spending Accounts (FSAs).
Our FSA-Controll.com website provides you and your employees with a comprehensive, set of interactive video-based FSA overviews and print materials. The site is accessible 24/7.
BAS can provide your employees with scheduled webinars to explain FSAs, perform mass emailing and paper mailing of education materials and enrollment reminders, and even support onsite seminars about FSA participation.
24×7 Online Account Balance & Claim Detail Information
FSA participants may access account balance and claims detail on MyEnroll.com 24×7 while administrators may access all participants account information except claims detail. Information online includes (1) Annual elections (2) Remaining balances, (3) claims & amounts pending payment, (4) claims & amounts paid, (5) Claims & amounts denied, (6) Claims information grouped by claimant (i.e., employee and dependents).
Quarterly Reminder Notices
Quarterly, MyEnroll.com sends reminder notices to FSA participants, who have email addresses recorded in MyEnroll.com, to review their FSA accounts. If a FSA participant does not record an email address in MyEnroll.com, these notices can be sent to the employee’s home via regular mail service (subject to contracting).
BAS maintains a series of communication materials that have proved very useful in communicating the value and operation of FSAs. Whether the communication is to employees learning about FSAs for the first time or to long-time FSA participants, these materials can be helpful in educating employees and garnering increased participation.
Two and one-half months “Grace Period”
Regulations issued in 2005 extended the period in which FSA participants may incur claims from a 12-month to a 14 and ½-month period. This significant change provides employees with more time in which to incur expenses and use their full annual election and reduces the likelihood of employee balance forfeitures.
MyEnroll.com, based on your organization’s specific preference, can accommodate the use (or non-use) of the 14 and ½-month claimable period.
Post-plan year 90-day claims run out
Whether your organization chooses a traditional 12-month or the newer 14 and ½-month claimable period, BAS will provide a 90-day claims run out period, subsequently. This run out period provides 90-days following the end of the 12 or 14 and ½-month claimable period in which employees may submit claims for reimbursement.