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Getting startedHow Beniversal® flexible spending plans workFirst step: calculate your monthly deductionYou can calculate your monthly deduction using our Tax Savings Calculator or our Medical Expense Worksheet or Dependent Care Expense Worksheet. Be careful in estimating how much you will spend. The money you set aside in your flexible spending account must be used within the Plan year or the first three months of the following year. Any unspent funds are, by federal law, forfeited. Next step: flexible spending plan signupSigning up is easy. You'll need the amounts you calculated above, and your Member I. D., which your employer will have provided to you. If you come to an open enrollment meeting at your employer's site, you'll find the necessary forms and guidance. Otherwise, check in with your employer to receive your flexible benefit plan's enrollment forms. Final step: start savingFrom this point on, every qualified purchase you make saves you 30 to 40 percent. How you access your money will depend on whether your plan includes a Benefit Resource Beniversal card.
If your flexible spending plan includes a Beniversal MasterCard® cardAccessing your Medical FSA funds couldn't be simpler. You just use your Beniversal card, exactly as you would a credit or debit card, at a qualified merchant. Money is automatically deducted from your Medical FSA. There's no digging deep for cash or waiting for reimbursements. You should collect and keep receipts. If requested you will have to send them in to Benefit Resource so that your flexible spending plan is in compliance with federal regulations. If your flexible spending plan does not include a Beniversal MasterCard® cardWe reimburse participants weekly for eligible medical and dependent care expenses. You fill out a short, simple claim form, attach the receipt, and send it to us. We reimburse you from your flexible spending account either by check or with a direct deposit to your bank account. Keep track of your funds with our 24/7 Participant web siteYou can check the status of your funds at any time on your web site. All you will need is your Member I. D. to log in to our Participant web site.
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Our Participant Services Call Center is always ready to help you with a problem or question. Open Monday - Friday, 8 am to 8 pm Eastern Time, at 1-800-473-9595.
Easy answers to common questions Our Flexible Spending Plans Frequently Asked Questions may be just what you need. Is your employer also offering a tax-free commuter program? You can also save 30 to 40 percent on your workplace commute. Our eTRAC Commute covers mass transit to and from work as well as parking at your workplace or transit stop. Sign up now! Or, if your employer doesn't offer this benefit, suggest they contact us.
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