A flexible spending program allows an employee to commit a certain tax-free amount to a spending account set aside for healthcare and childcare expenses.
Employees may also use the Benny card (similar to a debit card) to pay for eligible expenses.The IRS requires that all FSA Benny Card transactions must be verified as eligible FSA expenses. Some transactions, such as standard copays, can be auto substantiated. Still, many transactions require submission of supporting documentation to be verified. Multiple notifications from Benny Central will be sent to employees asking for substantiation. These notifications will be provided via email if an email address is available and will be sent from @bennycentral.com. If an email address is not available, notifications will be mailed to the employee’s home. Upon final notice the Benny Card will be frozen until substantiation is received. Learn more about the FSA and Benny Card. Click here for a list of frequently asked questions regarding the Benny Card.
Deciding how much to fund your flexible savings account can seem intimidating. A good rule of thumb is to take a close look at your healthcare expenses over the last 12-18 months, such as prescription drugs, doctor’s visits, eyeglasses, deductibles and copayments, to help you decide the amount to set aside in your FSA.
Healthcare:
Dependent Care:
or