CONSUMER RECORD KEEPING
- How can consumers be sure to get the full benefit of their health plan's negotiated provider discounts?
- How can consumers keep track of qualified and nonqualified expenses when combined in a debit card purchase?
Challenge:
How can consumers be sure to get the full benefit of their health plan's negotiated provider discounts?
RECONCILER™ Solution:
How can consumers keep track of eligible medical expenses that are not processed through their health plan and don't apply to the plan deductible?
Congress defines HSA "eligible expenses" considerably broader than the definition of "covered expenses" under most health plans.
For example, according to Congress, eligible expenses include certain categories of over-the- counter medications, lasik surgery, and orthodontics which are not generally covered by the consumer's health plan. Because these are now HSA qualified expenses, consumers automatically think the cost is applied toward the fulfillment of their deductible—which it is not.
Without proper reconciliation of these HSA eligible but health plan non-covered expenses, many employees may become confused and potentially angered by these unexplained discrepancies.
RECONCILER has an Account Summary feature that provides a complete financial snapshot of the consumer's HSA for any given time period. This includes charges applied (and not applied) to the health plan deductible.
Using RECONCILER it is easy for consumers to track and monitor their deductible activity and identify qualified and non-covered expenses.
Challenge:
How can consumers keep track of qualified and nonqualified expenses when combined in a debit card purchase?
RECONCILER™ Solution:
Since consumers can use their debit card for purchases other than medically eligible expenses, opportunities arise for making inadvertent mistakes, such as adding nonqualified items at the time of checkout at the pharmacy.
Other than storing these receipts in a "shoebox" or file, the consumer has no systematic way of tracking and noting these discrepancies.
RECONCILER provides consumers with a complete record of all HSA transactions. This allows consumers to easily view and track every transaction that has hit their HSA. In addition, the versatile "electronic shoebox" feature enables consumers to explain and document qualified and nonqualified expenses. No more digging through shoeboxes of receipts
With RECONCILER this information is always clearly identifiable and immediately accessible.
Questions?
To discuss how we can help your organization, please contact us:
or
(949) 756-0037
