Frequently Asked Questions

How do we verify that the Flex Benefits Card is used ONLY for qualified expenses?

The IRS requires that we, as your plan service provider, verify all Card swipes.
Most swipes are automatically verified:

Card swipes for co-pays or multiple co-pays at qualified locations such as the doctor's office.
Card swipes at IIAS retailers. (Inventory Information Approval System).This is because IIAS retailers allow only qualified plan expenses to be paid with the Flex Benefits Card. Therefore, when the cardholder's shopping basket contains both qualified healthcare items and other merchandise, the transactions will be automatically split and the cardholder will be asked for another form of payment to complete the purchase. Click here for the most up-to-date list of merchants with the IRS-approved inventory system.

When a Card swipe is automatically verified, we will not request a receipt be provided to us. (The IRS requires the participant to retain all itemized merchant receipts as well as the Flex Benefits Card receipts.)

 

The Flex Benefits VisaŽ Debit Card is issued by The Bancorp Bank member FDIC, pursuant to a license from Visa U.S.A. Inc. and can be used at qualified locations. The Card may not be used at all merchants that accept Visa debit card.

This disclaimer language is needed on all pieces of marketing, including each page of this website that mentions, shows or speaks of the prepaid card or card program. This Acceptance Language is needed at least once per page of this website.

*By placing this statement on each page that mentions the card, then this will satisfy Visa's requirement to have the program name at least once per link on websites.

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