Hard as it may be to believe, 2019 is two-thirds of the way over, and the holiday season will be here before we know it. Before things get too busy, now would be a good time to double-check your recent health care expenditures and see if you have any payments that need to be submitted for FSA or HRA reimbursement.
Current IRS guidelines state that only $500 of the pre-taxed money in a Health FSA account can be carried over into the next year, so failure to request reimbursements could end up costing you money. (FSA and HRA account balance carryover features vary from plan to plan so be sure to ask your employer the specifics of your plan.) You can download FSA or HRA reimbursement forms (including debit card substantiation requests) at MedBen.com.
To receive reimbursement, you’ll need to provide supporting documentation, such as an Explanation of Benefits (EOB) statement, a bill or receipt from a doctor, or a prescription receipt from a pharmacy. If you need an EOB, you can print a copy by visiting MedBen Access. The site is also useful if you need to check your current FSA or HRA balance.
FSA plan members have until March 31, 2020 to request reimbursement for 2019 claims, so there’s no need to panic… but it’s a good idea to do it sooner rather than later in case additional information is needed. (FSA and HRA account run-out provisions vary from plan to plan so be sure to ask your employer the specifics of your plan.) Clients with questions regarding their FSAs or HRAs may call MedBen Customer Service at 800-297-1829.