Page 17 - ABM 2021 Benefit Guide MGT HI
P. 17
Use it or Lose it!
This is a use it or lose it beneit. Any amount remaining in your healthcare FSA at the end of
that period will be forfeited, as required by law.
Using Your Debit Card Eligible Over-the-Counter (OTC)
For your convenience, Discovery Beneits, Items
our FSA administrator, provides debit cards Many OTC drugs and medicines are not
that can be used to purchase qualifying eligible for reimbursement through the FSA
healthcare goods and services. If you use unless accompanied by a doctor’s prescription.
your debit card at a healthcare provider or at a This limitation is on drugs and medicines
pharmacy that does not have an IRS approved only and does not apply to items such as
inventory system, and the transaction cannot bandages and contact lens solution, which
be substantiated by copayments or recurring are still eligible without a doctor’s prescription.
services, Discovery Beneits will require For those expenses that do not require a
that you submit an itemized receipt or your doctor’s prescription, your card transaction
explanation of beneits (EOB) to verify that the will, most likely, be automatically veriied at
transaction was for eligible healthcare goods checkout, which means you will not have to
or services. If you are unable to provide the submit a receipt to Discovery Beneits after the
appropriate documentation your debit card will transaction. You are, however, required to keep
be suspended and the claim will be denied. each receipt for tax purposes in the event it is
Discovery Beneits will request the funds needed for veriication.
be returned or ofset by providing suicient
information for another eligible service. The FSA account and debit card are regulated by the IRS and certain
rules apply.
ABM 17
This is a use it or lose it beneit. Any amount remaining in your healthcare FSA at the end of
that period will be forfeited, as required by law.
Using Your Debit Card Eligible Over-the-Counter (OTC)
For your convenience, Discovery Beneits, Items
our FSA administrator, provides debit cards Many OTC drugs and medicines are not
that can be used to purchase qualifying eligible for reimbursement through the FSA
healthcare goods and services. If you use unless accompanied by a doctor’s prescription.
your debit card at a healthcare provider or at a This limitation is on drugs and medicines
pharmacy that does not have an IRS approved only and does not apply to items such as
inventory system, and the transaction cannot bandages and contact lens solution, which
be substantiated by copayments or recurring are still eligible without a doctor’s prescription.
services, Discovery Beneits will require For those expenses that do not require a
that you submit an itemized receipt or your doctor’s prescription, your card transaction
explanation of beneits (EOB) to verify that the will, most likely, be automatically veriied at
transaction was for eligible healthcare goods checkout, which means you will not have to
or services. If you are unable to provide the submit a receipt to Discovery Beneits after the
appropriate documentation your debit card will transaction. You are, however, required to keep
be suspended and the claim will be denied. each receipt for tax purposes in the event it is
Discovery Beneits will request the funds needed for veriication.
be returned or ofset by providing suicient
information for another eligible service. The FSA account and debit card are regulated by the IRS and certain
rules apply.
ABM 17
