New online tool streamlines the IRS Expense Verification process to submit documentation required by the IRS to verify Medical FSA and HRA expenses as eligible. Benefit Resource streamlines processes with the introduction of Beniversal Followup, a new online tool for submitting receipts, repaying ineligible claims or submitting substitute claims.
“With a growing online-driven society, we are committed to making every aspect of our business paperless. While the IRS permits benefits cards, like our Beniversal® Prepaid Mastercard®, to be used to access Flexible Spending Account (FSA) and Health Reimbursement Account (HRA) funds at the time of purchase, it also requires administrators to verify that 100% of transactions are used for eligible medical expenses,” stated Tom Guiler, vice president. “Through the sophisticated card technology and transaction analysis offered with our Beniversal Card, most transactions can be verified automatically. The new online Beniversal Followup tool makes providing support for the remaining transactions easier.”
Beniversal Followup is an online tool integrated into the secure participant login. It provides participants with 24/7 access to see transactions that require followup, upload receipts or supporting documentation to Benefit Resource, repay an outstanding transaction or submit a substitute claim.
“FSAs and HRAs are a valuable tool for making health care more affordable. Our Beniversal Followup tool improves participant’s experience, eliminates the hassle of paperwork and faxes, all while ensuring the plans are compliant with IRS requirements,” expressed Anthony DiBarnaba, president.
About Benefit Resource
Benefit Resource administers tax-free employee benefit plans for more than 2,200 employer plans nationwide, reaching over 2 million employees. Unlike payroll or human resource companies, Benefit Resource focuses solely on administration of tax-free benefits, including: Flexible Spending Accounts, Health Savings Accounts, Health Reimbursement Accounts and Commuter Benefit Plans. These plans allow employees to set aside tax-free dollars to pay for medical care, dependent care, mass transit and parking.
Benefit Resource, founded in Rochester, New York in 1993, is the leader in card technology for tax-free employee benefit plans and has aligned with Mastercard International to streamline plan administration, reduce overhead costs for employers and improve convenience and security for employees.