April 5, 2012

Benefit Resource Streamlines Verification Requirements for Flexible Spending Accounts and Health Reimbursement Arrangements

benefit resourceBeniversal Followup, Benefit Resource, Inc’s new online tool for submitting receipts, repaying ineligible claims and submitting substitute claims for FSAs and HRAs requiring IRS verification, has gone live at BenefitResource.com.

“With a growing online-driven society, we are committed to making every aspect of our business paperless. While the IRS permits benefits cards, like our Beniversal Prepaid MasterCard, to be used to access Flexible Spending Account (FSA) and Health Reimbursement Account (HRA) funds at the time of purchase, it also requires administrators to verify that 100% of transactions are used for eligible medical expenses,” stated Tom Guiler, Vice President of Benefit Resource, Inc., “Through the sophisticated card technology and transaction analysis offered with our Beniversal Card, most transactions can be verified automatically. The new online Beniversal Followup tool makes providing support for the remaining transactions easier.”

Beniversal Followup gives users any-time access to see transactions identified as requiring a follow-up, upload receipts and other documentation, repay a transaction, or submit a substitute claim.

“FSAs and HRAs are a valuable tool for making health care more affordable. Our Beniversal Followup tool improves participant’s experience, eliminates the hassle of paperwork and faxes, all while ensuring the plans are compliant with IRS requirements,” expressed Anthony Dibarnaba, President of Benefit Resource.

Beniversal Followup is fully integrated into all Benefit Resource services involving the administration of tax-free FSAs, HSAs, Health Reimbursement Accounts, and Commuter Benefit Plans.

Read more news in Benefits

Joshua Bjerke, from Savannah, Georgia, focuses on articles involving the labor force, economy, and HR topics including new technology and workplace news. Joshua has a B.A. in Political Science with a Minor in International Studies and is currently pursuing his M.A. in International Security.