How to substantiate debit card transactions for Medical
How to substantiate debit card transactions for Medical FSA and Limited Purpose FSA March 31, 2021 © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum.
Optum Bank Payment Master. Card • Can spend up to your available balance • If you have multiple Optum Bank/Financial accounts, you will use same card • Fast and convenient © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum. 2
My card was accepted for payment. Why do I need to send documents to verify? IRS requires all FSA claims need to be verified to maintain pretax status of FSA plan Plan sponsor is responsible for auditing all transactions Does not match a co-payment on your health, vision or dental plan Ineligible items included in total purchase Merchant does not use IIAS point of sale technology Optum Financial administers on behalf of Par. TNers for Health plan. Merchant has not certified 90%+ of sales are FSA eligible © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum. 3
What type of documentation is needed for debit card substantiation or filing a claim for reimbursement? Documentation that DOES provide proof of eligible expense Documentation that does NOT provide proof of eligible expense Insurance plan Explanation of Benefits (EOB) or itemized/detailed Provider receipt that includes: • Credit card receipt only reflecting a payment • Bills for services that have not yet been performed • Receipt for amount due or paid before insurance discounts have been applied (final responsibility) • Provider receipt or statement of services that only show a balance due or balance forward • Provider receipt for a co-pay that does not clearly state the item is a co-pay charge 1. Date of Service or date expense was incurred 2. Itemized list of purchases or detailed description of service or expense 3. Name of Patient who incurred the service or expense 4. Name and address of merchant or health care professional 5. Dollar amount (after insurance has been applied – your final responsibility) © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum. 4
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How will I know if I need to submit documentation? 1 st Notice Documentation is needed 2 nd Notice Receipt Required Reminder 3 rd Notice. Overdue Debit Card Suspension • • Arrives by email or letter; advises receipts/EOB needed to further audit expense Within 7 business days after card swipe Emails will not give specifics of claim due to privacy regulations You can view the specifics by logging in and access ‘Forms and Documents” • Arrives by email or letter • Sent about 30 days from 1 st notice • Repeats debit card substantiation request • Arrives by email or letter • Sent about 15 days from 2 nd notice • Advises of debit card suspension after 15 more days • Arrives by email or letter • Advises card has been suspended temporarily • To reinstate card – submit proper documentation or repay claim via online ACH or check © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum. 6
Where to access debit card claim letters online © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum. 7
Online substantiation is preferred however, you can Fax, e. Mail or Mail documents to substantiate your debit card purchase: Create cover letter that includes your First Name; Last Name Employer Name Last 4 of SSN Claim # if you have it, Mail: Optum, P. O Box 30516 Salt Lake City, UT 84130 e. Mail: optumclaims@prod. sourcehov. com Fax: 855 -244 -5016 © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum. 8
Getting Started optumbank. com/tennessee © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum.
Optum. Bank sign in page • You can log in on your computer or from your mobile device using the Optum. Bank app • If this is your first time logging in. You will need to create your Health Safe ID © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum.
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Still need attention after 5 business day? You will be notified via email or letter in the mail Review the documentations you sent. Does it meet the criteria discussed earlier? If not, provide additional documentation. Have questions? Give us a call at the number on the back of your card © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum. 27
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What if you have more questions? • Call Optum Bank Customer Care 866 -600 -4984 • Email service. tennessee@optum. com Visit www. optumbank. com/tennessee © 2018 Optum, Inc. All rights reserved. Confidential property of Optum. Do not distribute or reproduce without express permission from Optum.
Thank you for attending • Investments are not FDIC insured, are not guaranteed by Optum Bank®, and may lose value. • Health Savings Accounts (HSAs) are individual accounts offered or administered by Optum Bank®, Member FDIC, and are subject to eligibility and restrictions on distributions for qualified medical expenses set forth in section 213(d) of the Internal Revenue Code. State taxes may apply. Fees may reduce earnings on account. This communication is not intended as legal or tax advice. Please contact a competent legal or tax professional for personal advice on eligibility, tax treatment, and restrictions. Federal and state laws and regulations are subject to change. • Mutual fund investment options are made available through the services of an independent investment advisor. Shares are offered through Charles Schwab & Co. , Inc. , a registered broker-dealer. Orders are accepted to effect transactions in securities only as an accommodation to HSA owner. Optum Bank is not a broker-dealer or registered investment advisor, and does not provide investment advice or research concerning securities, make recommendations concerning securities, or otherwise solicit securities transactions. • • Hypothetical examples are for illustrative purposes only. All events, persons and results described herein are entirely fictitious and amounts will vary depending on your unique circumstances. Any resemblance to real events or persons, living or dead, is purely coincidental. Current rates are variable and may change at any time. Individual circumstances may vary. • © 2021 Optum Bank, Inc. All Rights Reserved. WF 3186615 30
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