. You can use this card to pay for certain eligible expenses. Enter the first and last name of your spouse or dependent name and click Submit. Her work has been featured by USA Today, U.S. News and World Report and The Associated Press. Fuel, gasoline for medical care reimbursement is eligible with a flexible spending account (FSA), health savings account (HSA) or a health reimbursement arrangement (HRA). If you have a PayFlex HSA, you can transfer funds through the app. Call 1-888-678-7646 (TTY: 711). Its that easy. Learn more about Health Care Flexible Spending Accounts, Tax-free spending on eligible health care expenses, Let's take the mystery out of pretax accounts, PayFlex Individual Health Savings Account (HSA), Employer-sponsored Health Savings Account (HSA), Health Care Flexible Spending Accounts (FSAs), Dependent Care Flexible Spending Accounts (FSAs), Money spent after-tax on health care expenses, Money spent after-tax on dependent care expenses, Change in legal marital status (marriage, divorce, legal separation, annulment, death of a spouse), Change in number of tax dependents (birth, adoption, death), Change in employment status that affects benefit eligibility, Dependent becomes or is no longer eligible under the plan (reaches limiting age, gains or loses student status), Change in residence that affects eligibility. You can withdraw money from your HSA at any time for any purpose If the money is used for an ineligible expense (whether medical or non-medical), the expenditure will be taxed and, for individuals who are not disabled or over age 65, subject to a 20% tax penalty. PDF Flexible Spending Account (FSA) So, you could save about 30 cents on every dollar you spend on eligible expenses. Your election amount is simply deposited into your account and available on your card. If thats the case, youll only have to worry right now about the money in excess of your rollover limit. Note: If you don't respond to the request, your card may be suspended until you either send in the Simply click on the corresponding icons to visit our online vendors to purchase an eligible healthcare item. If you receive distributions for other reasons, the amount you withdraw will be subject to income tax and may be subject to an additional 20% tax. 3. Your account balance may not cover the expense. If you have an HSA through your employer, you can make pre-tax payroll contributionsthis type of contribution saves more on taxes than tax-deductible after-tax contributions. Employers may set a lower limit, so you should check your plan to know how much you can contribute. This influences which products we write about and where and how the product appears on a page. How do I transfer money from my PayFlex card to my bank account? You can use the card to pay for eligible expenses. Simply choose your eligible expense item and use your card to pay from your PayFlex account. At age 65, you will have the ability to use your HSA funds for any purpose on a taxable basis This makes funding your HSA a great way to save for retirement. Click on Make an HSA Withdrawal. Once you order a card, you should get it within 10 to 15 business days. Click on Make an HSA Withdrawal. Saturday, 9 AM to 2 PM (CT). It gives you the info you need, when you need it. The current contribution limits are $3,850 for individuals, $7,750 for families. You already know how a PayFlex health savings account, HSA, is a great way to save for health care expenses. Option 3: (Choose this option only if your dentist requires you to pay before insurance pays.)
can i withdraw money from my payflex card