Two easy steps to streamline using your health savings account or flexible spending account today can save time tomorrow.
There are two easy steps you can take to streamline how you use your health savings account (HSA) or healthcare flexible spending account (FSA); both can save you a lot of time.
Step 1: Use your debit card.
You already know that filling out a healthcare FSA claim form and waiting for reimbursements is a time-consuming process. What you may not realize is that in more and more places, your spending account debit card can be used to skip those steps and pay for many of your eligible expenses on the spot.
Many pharmacies, healthcare providers, and retailers now accept debit cards to pay your portion of eligible medical, dental, and vision expenses. And if you want to double-check that charge, simply log in to your spending account at learn.hellofurther.com/BOP to get the details of your expense history.
Step 2: Keep those receipts.
Whether you're using a debit card or opting for reimbursement, it's important to keep documentation (like a receipt) to prove that you used your account for an eligible expense. In fact, it's required by the IRS. Saving them as you go means you don't need to look for the information later.
What information do I need to keep?
Your receipts should identify how much and who was paid, as well as the date of payment. In some cases, you'll also need a letter of medical necessity or a copy of the prescription to show the charge is an eligible expense.
How long do I need to keep receipts?
Don't like keeping receipts?
If you have an account with Further through the Board of Pensions, you can store electronic copies of your receipts in your account on hellofurther.com. Simply log in to your account and go the
My Records and Receipts section to upload your receipts, match them to processed or unreimbursed expenses, and use filters for finding a receipt you need.
|Did you know? You can upload photos of your receipts when you pay using the camera on a smartphone and the Further mobile app.|
Questions? Call the Further customer service team at 651-662-5065 or 800-859-2144 from 7 a.m. to 8 p.m. CT, Monday through Friday. Information is also available at learn.hellofurther.com/BOP.