Page 21 - ABM 2021 Benefit Guide AMPCO
P. 21
Use it or Lose it! Eligible Over-the-Counter (OTC)
This is a use it or lose it beneit. Any amount Items
remaining in your healthcare FSA at the end Many OTC drugs and medicines are not
of that period will be forfeited, as required eligible for reimbursement through the FSA
by law . unless accompanied by a doctor’s prescription.
This limitation is on drugs and medicines
Using Your Debit Card only and does not apply to items such as
For your convenience, Discovery Beneits, bandages and contact lens solution, which
our FSA administrator, provides debit cards are still eligible without a doctor’s prescription.
that can be used to purchase qualifying For those expenses that do not require a
healthcare goods and services. If you use doctor’s prescription, your card transaction
your debit card at a healthcare provider or at a will, most likely, be automatically veriied at
pharmacy that does not have an IRS approved checkout, which means you will not have to
inventory system, and the transaction cannot submit a receipt to Discovery Beneits after the
be substantiated by copayments or recurring transaction. You are, however, required to keep
services, Discovery Beneits will require each receipt for tax purposes in the event it is
that you submit an itemized receipt or your needed for veriication.
explanation of beneits (EOB) to verify that the The FSA account and debit card are regulated by the IRS and certain
transaction was for eligible healthcare goods rules apply.
or services. If you are unable to provide the
appropriate documentation your debit card will
be suspended and the claim will be denied.
Discovery Beneits will request the funds
be returned or ofset by providing suicient
information for another eligible service.
ABM 21
This is a use it or lose it beneit. Any amount Items
remaining in your healthcare FSA at the end Many OTC drugs and medicines are not
of that period will be forfeited, as required eligible for reimbursement through the FSA
by law . unless accompanied by a doctor’s prescription.
This limitation is on drugs and medicines
Using Your Debit Card only and does not apply to items such as
For your convenience, Discovery Beneits, bandages and contact lens solution, which
our FSA administrator, provides debit cards are still eligible without a doctor’s prescription.
that can be used to purchase qualifying For those expenses that do not require a
healthcare goods and services. If you use doctor’s prescription, your card transaction
your debit card at a healthcare provider or at a will, most likely, be automatically veriied at
pharmacy that does not have an IRS approved checkout, which means you will not have to
inventory system, and the transaction cannot submit a receipt to Discovery Beneits after the
be substantiated by copayments or recurring transaction. You are, however, required to keep
services, Discovery Beneits will require each receipt for tax purposes in the event it is
that you submit an itemized receipt or your needed for veriication.
explanation of beneits (EOB) to verify that the The FSA account and debit card are regulated by the IRS and certain
transaction was for eligible healthcare goods rules apply.
or services. If you are unable to provide the
appropriate documentation your debit card will
be suspended and the claim will be denied.
Discovery Beneits will request the funds
be returned or ofset by providing suicient
information for another eligible service.
ABM 21
