Disclaimer
This material is for informational purposes only. The information describes the Flexible Spending Account (“FSA”) in general terms. FSA plans are governed by the rules of Section 1 25 of the Internal Revenue Code and will be administered in accordance with those rules. Estimate fund amounts carefully. Unused funds will be forfeited as described in your plan document. In case of a conflict between your plan documents and the information in this material, the plan documents will govern. Please refer to your employer’s Summary Plan Description (“SPD”) for more information about your covered benefits. Information is believed to be accurate as of the production date; however, it is subject to change. For more information about, go to SABCFLEX.COM
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YOUR UNREIMBURSED MEDICAL SPENDING ACCOUNTS NOW OFFERS A SABCFlex Card
Our Flexibles Spending Account for Medical offered through SABC, offers a Debit Card for your convenience to use for your out-of-pocket Unreimbursed Medical Expenses. This card is called the SABCFlex Card. This card can be used for pharmacy prescriptions, medical doctor visits, (non-cosmetic), co-pays, co-insurance, deductibles, dental expenses (non-cosmetic), vision expenses and medical items. (No over-the-counter-drugs). Please note, this is not a paper free process, just easier to get your medical expenses paid at the point-of-sale. You will be notified by email, when it is necessary for you to provide documentation to validate your incurred expense to SABC.
HOW TO VALIDATE YOUR MEDICAL EXPENSE?
After the swipe of your SABCFlex Card, you may later receive an email requesting you substantiate a card swiped medical expense. You will then need to provide SABC with a paper statement of services received, and/or (in many cases), an Explanation of Benefits from the insurance company based on the expense. Should you fail to do this, you will get another notification reminder to do so. (Giving you 50 days to validate a card swipe). Should you fail to do this, the card could be suspended until such time as the paper substantiation for the swipe has been submitted. To select the card option, you need only to choose it on ben360.
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