How Does the Beniversal FSA Work?
The Beniversal FSA provides convenient and seamless access to your Flexible Spending Account by combining the Beniversal Prepaid MasterCard®, online and mobile account access and
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The Beniversal FSA provides convenient and seamless access to your Flexible Spending Account by combining the Beniversal Prepaid MasterCard®, online and mobile account access and
No. IRS regulations do not allow this.
Your Medical FSA will terminate as of the date your employment terminates. Eligible medical services provided prior to your date of termination will still be
No. You must enroll again before the beginning of each new plan year. This gives you a chance to change your election each plan year
Refer to your Plan Highlights regarding unused FSA funds. Any forfeited funds are returned to your employer, but the IRS has imposed strict regulations on
No. Money directed to one type of Account can be used only for expenses relating to that Account. This is true even if all the
No. Services must be provided on or after your effective date.
Eligibility of expenses is dictated by the IRS and those guidelines are used by Benefit Resource. The services of an attorney are utilized if an
The amount available for a Medical FSA = the total amount you elected for the current plan year minus any prior payments and reimbursements. The
Tax-free contributions may slightly reduce your Social Security benefits. However, the value of your tax savings with an FSA should more than offset the slight
You will not pay federal income tax, Social Security tax and most state taxes (varies by state) on contributions to a Medical and/or Dependent Care
Enrolling in an FSA allows you to make tax-free salary contributions to pay for eligible medical and dependent care expenses that are not covered or
Simplifying the complexity of benefits for maximum savings and peace of mind.
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The Beniversal and eTRAC Prepaid Mastercards are issued by The Bancorp Bank, N.A., Member FDIC, pursuant to a license by Mastercard International Incorporated and may be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circle’s design is a trademark of Mastercard International Incorporated.
HSA Custodial Services are provided by a separate financial institution. See your HSA Account Agreement for specific account terms.
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