Upgraded Technology Better Itemizes FSA Debit Card Expenses
-- Posted on Tuesday, December 30, 2008
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Employees whose employer-provided health plan provides a flexible spending account (FSA) debit card may find it easier to use those cards. Rite Aid, a nationwide drugstore chain with 4,900 stores in 31 states and Washington, D.C., has upgraded pharmacy and front-end cash registers to simplify tracking health-related spending. The registers now print receipts that identify items that may be eligible for reimbursement as part of a FSA benefit plan, according to a company press release.
Rite Aid is now using an inventory information approval system (IIAS) to allow customers to pay for eligible health care items with FSA debit cards. Eligible health care purchases on receipts are identified with an "H" to the right of the item's price. These items are totaled by the cash register and can be paid for by an FSA debit card.
FSA card holders must pay separately for non-eligible items that make up the remaining balance.
FSA debit cards allow customers to purchase certain health items using funds from a pre-tax account. Participants are often advised to save all applicable receipts.
FSA debit cards are discussed in the Flex Plan Handbook. Additional coverage of developments affecting FSA debit cards will appear in future supplements to the Handbook. |
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