FLEXIBLE SPENDING ACCOUNTS

Flexible Spending Accounts (FSA) provide significant pre- tax savings to employees and employers alike. Employees save nearly 30% on their eligible healthcare and/or dependent care expenses. And employers save on payroll taxes for each and every dollar of employee participation.

The TASC Card Simplifies FSAs
FlexSystem FSA Participants need an easy way to handle healthcare and dependent care expenses and the TASC Card provides it. Participants can use this prepaid Mastercard® at point of purchase to pay for eligible FSA expenses. Doctor’s co-pay? Prescriptions? Daycare? With a simple swipe of the TASC Card Participants pay qualifying expenses directly from their FlexSystem balance. No need to request a reimbursement.

And when they need reimbursements, Participants don’t have to wait for a paper check or direct deposit to their bank. Reimbursements are automatically loaded into the TASC Card’s MyCash account and held separately from FSA dollars. MyCash funds for any type of purchase where Mastercard is accepted. They can also with- draw MyCash funds via an ATM, making the TASC Card a cash card AND a benefits card.

MyTASC Mobile App

When it’s a challenge to get to a computer, Participants can still access FSA information. Text Messaging tools and the MyTASC

Mobile App offer quick answers when Participants need to know their balance. And both options make submitting reimbursement requests fast, easy, and convenient.

Using their smartphones and tablets, the Mobile App provides account balance, reimbursement status, and historical information. But perhaps most important, with the MyTASC Mobile App Participants can submit requests for reimbursement—including documentation (like receipts) by taking a picture with their device.

Rich with innovative service tools and features your employees will love.

Employee Benefits

• All-inclusive fees—no hidden charges.

• Exclusive Audit Guarantee.

• Transparent view of Customer Care via MyService Center:

• Service-level reporting,

• Up-to-date statistics on Participant activity.

• Unique funding arrangement:

• Withholding-based funding,

• Floats uniform coverage dollars,

• Auto ACH of Plan funds,

• Mirror imaging of payroll.

• Online enrollment and Plan implementation.

• No ties to any insurance or other employee benefit plans.

Participant Benefits

• Multiple ways to manage accounts: online, IVR Phone, Mobile App, and Text Messaging (SMS).

• Convenient TASC Card for eligible purchases.

• Cash purse—MyCash reimbursement account on the TASC Card.

• Simplified claim process with Claim ConneX (insurance carrier electronic file feed when available).

• Easy online enrollment or re-enrollment.

• Daily processing of reimbursement.

• Carryover option available for Healthcare FSA.

MyBenefits Account

T he TASC Card provides a convenient method to pay for eligible healthcare, dependent care, and/or transit and parking expenses as defined by your FlexSystem Plan. MyBenefits is funded through equal pre-tax payroll deductions based on your annual benefits election.

Card purchases are limited to y our Plan type, and also to merchants with an inventory information approval system (IIAS) in place to identify FSA-eligible purchases. Simply swipe your card at the time you incur the eligible expense and the IIAS automatically approves the purchase of eligible items and deducts the amount from the available balance in your Flex System account.

MyCash Account

Reimbursements are fast and paperless! If you do not use your TASC Card to pay for an eligible expense, you may submit a request for reimbursement. Reimbursements will be deposited into your MyCash account, to be spent any way and any where you want with your TASC Card!

Access y our MyCash funds in three ways:

( 1 ) swipe your TASC Card at any merchant that accepts Mastercard®,

( 2 ) withdraw at an ATM using y our TASC Card, or

( 3 ) transfer to a personal bank account from My TASC online.

The TASC Card is available for the following FlexSystem Plan types, where applicable:

  • Healthcare FSA
  • Dependent Care FSA
  • Transit & Parking Account(s)

 

FSA Eligible Expenses

Flex System funds may only  be used for eligible expenses under your healthcare and/or dependent care FSA. Some eligible expenses include:

  • Medical care services
  • Dental care services
  • Vision care expenses
  • Prescriptions
  • Daycare Tuition

More detailed lists can be found at www.irs.gov in IRS Publications 502 & 503. Please note insurance premiums are NOT eligible for reimbursement.

Always keep your receipts!

Track account activity in MyTASC:

• www.tasconline.com

• Mobile App

• Text Messaging

MyWay

The ability to access two accounts on one card makes the TASC Card more versatile than ever!

• Avoid embarrassing declines: MyCash funds can be used to pay for eligible expenses if no funds are available in your MyBenefits account.

• Combine general retail items with healthcare expenses in one transaction. The TASC Card is smart enough to know that eligible expenses are deducted from your MyBenefits account while ineligible expenses are withdrawn from My Cash.

• Transfer My Cash funds to a personal bank account (from the home page, click Schedule a Transfer).

 

Easily Manage Your Card Online

Our dynamic My TASC website makes card management easy . Simply log in to y our My TASC account online and select “Manage My Card” to perform the following functions:

  • View cad information
  • View allowed benefits
  • Reissue a card (due to never received, damaged, lost/stolen, or name change).
  • Request a PIN for ATM access.
  • Schedule a funds transfer.
  • Request an additional card for spouse and/or dependent.

Get More Information

MyTASC Login: www.tasconline.com/mytasc

TASC Card FAQ: www.tasconline.com/tasc-card-faqs

TASC Mobile: www.tasconline.com/mobile

Eligible Expenses: www.irs.gov

Give Collins Financial Group a call or an email to find out how you can take advantage of these great benefits for your employees!