General Services Administration

Make Flexible Spending Accounts More Flexible

It's great to have a flex spending account, but it's a very cumbersome and inefficient process to actually take advantage of the account. You have to save receipts (paper that could be recycled), then fill out a form(s), print the form(s) (again paper that could be saved & recycled), then fax the form(s), and then wait to see if the expenses will be reimbursed.

 

Why not issue FSA Visa or Mastercards that are loaded with your specifed FSA amount. These cards are authorized only for health expenses. If there is a flagged expense and verification is needed, an email can be sent to an individual to provide further documentation. One can then scan the necessary receipt/documentation to justify the expense.

 

This saves paper, reduces the likelihood of losing receipts and documentation, helps individuals track their spending, makes the FSA process more secure (HIPPA), and most of all saves the time to reimburse individuals for money they are already setting aside from their salary each month.

Tags

Voting

2 likes
Active
Idea No. 12633