Prepaid Benefits Card
While the prepaid benefits card is incredibly smart and will only work for eligible expenses, employees will want to save their receipts, bills or explanation of benefits so that in the event of an IRS inquiry they are prepared to prove that the money was spent accurately.
- May I use my prepaid benefits card if I receive a statement due for a medical service?
- Can I use the prepaid benefits card to access last year’s money left in my FSA and/or HRA this year?
- If asked, should I select “debit” or “credit”?
- What happens to my prepaid benefits card when my employment is terminated or I resign?