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Benefit Concepts Inc. has launched a new and improved Flexible Spending Account
By:
Date: October 29 2011
Date: October 29 2011
East Providence, Rhode Island, October 29th, 2011.
Benefit Concepts Inc. has launched anew and improved Flexible SpendingAccount (FSA) System. By simplifying and updating the substantiation process for Stored Value Card (debit card) expenses, Benefit Concepts has made the process easier and more transparent to the participant.
Stored Value Cards are very convenient and are used to pay for out of pocket health care expenses. They are recognized at health care related “merchants” (hospitals, physician’s offices, laboratories, pharmacies, etc). Most of the time there are no further administrative requirements for the participating employee. However, about 10 to 15% of the time the FSA participant is asked to submit proof for the card expense.
“Card holders can now scan and email receipts through us rather than relying on outdated technology like fax machines”, said Jay Hoder, Benefit Concepts’ Chairman of the Board. Now all substantiation request letters will be produced in the Benefit Concepts system and all letters can be customized for each client. Participants can scan, upload and view their records online making it easier than ever to keep track of their spending. Benefit Concepts has made expanded card reporting available at the employer HR portal.
About Benefit Concepts
Benefit Concepts is a leading employee benefit administration company that provides, outsourced administration solutions, including Annual and Ongoing Enrollment, Flexible Spending Accounts(FSAs), Health Reimbursement Arrangements(HRAs), COBRA, Retiree and Direct Billing services and Commuter Benefit Services.
East Providence, Rhode Island, October 29th, 2011.
Benefit Concepts Inc. has launched anew and improved Flexible SpendingAccount (FSA) System. By simplifying and updating the substantiation process for Stored Value Card (debit card) expenses, Benefit Concepts has made the process easier and more transparent to the participant.
Stored Value Cards are very convenient and are used to pay for out of pocket health care expenses. They are recognized at health care related “merchants” (hospitals, physician’s offices, laboratories, pharmacies, etc). Most of the time there are no further administrative requirements for the participating employee. However, about 10 to 15% of the time the FSA participant is asked to submit proof for the card expense.
“Card holders can now scan and email receipts through us rather than relying on outdated technology like fax machines”, said Jay Hoder, Benefit Concepts’ Chairman of the Board. Now all substantiation request letters will be produced in the Benefit Concepts system and all letters can be customized for each client. Participants can scan, upload and view their records online making it easier than ever to keep track of their spending. Benefit Concepts has made expanded card reporting available at the employer HR portal.
About Benefit Concepts
Benefit Concepts is a leading employee benefit administration company that provides, outsourced administration solutions, including Annual and Ongoing Enrollment, Flexible Spending Accounts(FSAs), Health Reimbursement Arrangements(HRAs), COBRA, Retiree and Direct Billing services and Commuter Benefit Services.
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