Who is eligible for an HSA?
To be eligible for an HSA, you must only be covered by an HSA-compatible health insurance plan, not enrolled in Medicare and not claimed as a dependent on another person’s tax return. Your eligibility to contribute to an HSA is determined on the first of each month.
What is an HSA-compatible health plan?
An HSA-compatible health plan is a health insurance plan that meets the guidelines set by the IRS regarding deductibles, out-of-pocket expenses and acceptable coverage. The health plan cannot provide benefits before the deductible is met, except for preventive care services. All co-payments or co-insurance (e.g. prescription drug costs) must be counted toward the deductible and […]
What is a Health Savings Account (HSA)?
A Health Savings Account (HSA) is an account that allows you to save money for medical expenses on a tax-advantaged basis. Funds are deposited into the HSA on a tax-free or tax-deductible basis, funds grow on a tax-deferred basis, and remain tax-free when used for eligible medical expenses. It is the only existing account that […]
I am moving from a Medical FSA this plan year to an HSA next plan year. Are there any issues or concerns that I should be aware of?
When transitioning from a Medical FSA to an HSA, you need to make sure you understand when you become HSA eligible. Here are a few simple steps to use to determine when you become HSA eligible. Determine when your Medical FSA coverage ends. If your Medical FSA coverage ends before your HSA-compatible health plan coverage […]
If I have a Dependent Care FSA, am I still HSA eligible?
A Dependent Care FSA does not affect your eligibility for an HSA. You can have both accounts without creating any conflict of benefits.
If I have an HSA, can I have a Medical FSA or HRA?
An HSA cannot be combined with a General Medical FSA or HRA. The IRS permits an individual to have a Limited Medical FSA or Limited HRA which allows you to save additional tax-free dollars for vision and dental expenses.
What if I lose my card or need another one?
To minimize unauthorized use of your card, be sure to report a lost card immediately by calling Benefit Resource at (800) 473-9595 or logging on to BRIWEB and clicking “View Card Status.” You can request replacement cards through the same process.
What if I order my prescription through an online or mail order program?
When payment information is requested for a mail order or online prescription service, you can simply provide your Beniversal Card number and related account details.
Can I use my card to purchase over-the-counter (OTC) items?
If your plan covers eligible OTC items, they can be purchased with the Beniversal Card. Check your plan documentation to verify what expenses are covered by your plan. View sample list of eligible OTC items or visit FSA Store to purchase eligible items directly.
What can I purchase with my Beniversal Card?
Always refer to your plan’s documentation to see what expenses are allowed under your plan. However, here are some basic guidelines: A Commuter Benefit Plan (CBP) is intended to pay for eligible workplace commuting expenses, which may include mass transit and/or parking benefits. A Medical FSA and/or HRA is designed to pay for eligible medical […]
Where can I use my Beniversal Card?
Your card will only work at qualified merchants who accept Debit Mastercard®. Qualified merchants include medical providers such as: Chiropractors, Medical labs, Vision centers, Doctors, Medical supply stores, IIAS merchants, Dentists, Orthodontists, 90% merchants, Hospitals & Podiatrists. There is no cash or ATM access on the Beniversal Card.
What is a Beniversal Card?
The Beniversal® Prepaid Mastercard® allows participants to use applicable benefit account funds to pay for eligible expenses at qualified merchants accepting Debit Mastercard®. Allowable account options are determined by your employer and may include: Commuter Benefit Plan (Mass Transit and Parking Accounts) Flexible Spending Account (FSA) or Limited FSA Health Reimbursement Account (HRA) or Limited HRA […]
What dollar amount is available on my Beniversal Card after I activate it?
Funds will become available on the Beniversal Card based on the parameters outlined in your plan documents. For a Medical FSA, the available amount will be the total amount you elected for the current plan year minus any prior payments and reimbursements. Check your plan documentation to determine if prior year funds are available on the […]
If asked, should I select “Debit” or “Credit”?
Select CREDIT to sign for the purchase or DEBIT to enter a Personal Identification Number (PIN). To request a PIN for your Beniversal® Prepaid Mastercard® or eTRAC® Prepaid Mastercard, call (855) 247-0198. There is no ATM or cash access associated with this card.
