5 ways to get the most from your healthcare FSA

​The Board of Pensions has partnered with Further, a leading national health savings and spending account administrator, to help employers offer flexible spending accounts (FSAs) to employees — a new benefit for 2019. If you are enrolled in a healthcare FSA through Further, you can start using your account now.

Here are five things you can do to get the most from your healthcare FSA.

1. Use your Further Visa debit card for instant access to your healthcare FSA dollars. You can use the debit card to pay for eligible expenses, such as deductibles, doctor’s office visit copays or copayments, prescription drugs, and eligible over-the-counter medications.

Download the Further app to access your healthcare FSA on the go.

• Register online at the Further member portal.
• Search for Further Mobile in the iOS app store on your iPhone or in Google Play on your Android device.
• Install the free app on your device and sign in with your Further member portal username and password.
• Follow the prompts from the app. You will create a personal identification number (PIN), and can also enable fingerprint sign-in for even more convenient access.
2. Save your receipts and explanation of benefits statements to verify your expenses. It’s required by the IRS, and, depending on the expense, Further may ask for documentation. If required, you can conveniently submit your documentation through the Further member portal or the Further app.
3. Keep track of your account balance with Further’s online tools. Log on to the member portal or the member app to see your account balance in real time.
4. Know what expenses are eligible. Refer to the searchable list of eligible expenses on the member portal, or use the barcode scanner on the mobile app to check if an over-the-counter product is eligible.
5. Use network providers. You’ll pay less out of pocket for your care, which will make your FSA funds last longer. Remember, however, to use the money in your account by the end of the year; if you have more than $500 left at the end of the year, the amount over $500 will be forfeited.