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FSA Purchase Substantiation Made Simple

Sep 14, 2023 | Consumer-driven Health Plans, Debit Cards, Flexible spending accounts (FSAs), FSA Store, IRS, Substantiation

Substantiating purchases made with a health flexible spending account (FSA) is crucial for ensuring eligibility for pre-tax status…so much so, that earlier this year the IRS released a memorandum stressing its importance. To make the process as straightforward...

Summer’s an Ideal Time to Check FSA Funds

Jul 19, 2023 | Consumer-driven Health Plans, Flexible spending accounts (FSAs), FSA Store, MedBen Access, Mobile App, Online Services

Hard though it may be to believe, we’re more than halfway through 2023. For flexible spending account (FSA) users, it’s an opportune time to check balances and stock up on summer supplies that can be purchased with FSA funds. FSA Store offers a variety of...

2024 HSA Contribution Limit Jumps Nearly 8%

May 25, 2023 | Announcements, Consumer-driven Health Plans, FSA Store, Health Savings Accounts (HSAs), High-Deductible Health Plans (HDHPs), HSA Store, IRS

The IRS has announced its health savings account (HSA) contribution limits for 2024. The annual cost-of-living adjustments include a 7.8% increase in individual HSA contributions – one of the largest jumps in recent years, and a definite indication of how inflation...

Remind Your FSA Members to Use Their 2022 Funds Before the Grace Period Ends!

Feb 20, 2023 | Consumer-driven Health Plans, Flexible spending accounts (FSAs), FSA Grace period, FSA Store

If your health plan offers a grace period for members to use any remaining 2022 flexible spending account (FSA) funds, you’ll want to remind them that those funds will no longer be available after March 15, 2023. Any claims submitted before that date will...

IRS Expands Change-in-Status Rules for Cafeteria Plans

Jan 4, 2023 | Affordable Care Act, Cafeteria plans, Consumer-driven Health Plans, Health insurance exchanges, IRS

Once again, the IRS is seeking to increase access to federal Health Insurance Exchange coverage… this time, by offering greater flexibility to sponsors of cafeteria plans.  As explained in Notice 2022-41, the IRS has expanded the change-in-status rules for...

FSA Store – A Convenient Way to Spend Unused FSA Funds

Nov 10, 2022 | Consumer-driven Health Plans, Flexible spending accounts (FSAs), FSA Store, Online Services

“How do I spend down my extra FSA funds?” is a question MedBen regularly gets this time of year. Fortunately, there’s a convenient way for your plan members to shop for useful FSA-eligible products before year’s end (or before their grace...
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