Your SMU Flexible Spending Account: Make the most of your FSA and your Discovery Benefits Debit Card!

If you enrolled in the Health Care and/or Dependent Care FSA for 2011, you should have received your Discovery Benefits Debit Card and an information packet from Discovery Benefits. The IRS issued good news in late December regarding the use of FSA debit cards. After January 15, 2011, you can use your debit card to purchase over-the-counter (OTC) medicines at drug stores, pharmacies, and non-healthcare merchants that have a pharmacy (e.g., Wal-Mart, Tom Thumb, etc.).

These purchases must meet certain requirements prior to purchase. You must present a prescription for the OTC medicine to the pharmacist. The pharmacist will assign an Rx number and maintain a record of the Rx number, the name of the purchaser, and the date and amount of the purchase. The debit card system will not accept a charge for an OTC purchase if an RX number has not been assigned.

Information, Forms, etc.: The Discovery Benefits website is easy to navigate and has all of the information and forms you will need to take full advantage of your FSA and your debit card. When you visit the website, be sure to follow the registration instructions (Participants>> Account Log-in>>) so you will always have immediate access to your personal account information. Follow the Flexible Benefits (FSA) links and you will have easy access to information regarding eligible medical and OTC expenses, eligible dependent care expenses, debit card guidelines, and Frequently Asked Questions.

Additional Questions? Call Discovery Benefits Customer Service at (866) 451-3399.

About Mary Stall

BF-BusinessSV(TrainDev)
This entry was posted in Uncategorized. Bookmark the permalink.