UPMC Health Plan Introduces `MyFlex Advan...(s group and member numbers plus copay/co...),Health

The card gives UPMC Health Plan members the ability to pay for eligible products and services at the point of sale without having to submit claim forms or wait for reimbursements.

"Our members will be able to save 20-40 percent by using an FSA, and reducing their tax liability," said Tony Benevento, Vice President, Sales & Marketing for UPMC Health Plan. "In effect, using an FSA raises your net annual income. In addition, cardholders get the convenience of paying for health care services at the point of sale without having to pay out-of-pocket."

FSA accounts are authorized by the Internal Revenue Code. The accounts are funded by an employee's salary reduction that is used to help pay certain health care expenses that are not covered by their plan. Employees decide how much money they want to put in their accounts based on estimates of their healthcare expenses for the coming year. FSA deposits are not subject to income taxes, but must be used or forfeited by the end of each calendar year.

Expenses eligible to be paid with the MyFlex Advantage card include: copayments, deductibles, dental and vision expenses, braces, counseling services, psychiatric care, prescription drugs, and over-the-counter medications. Using the card for eligible expenses eliminates the need to submit claim forms because providers are paid directly from money deducted from the member's FSA account.

As an example of how an FSA can work, if a couple had a combined income of $96,000 and put aside $1,600 for their FSA, they could wind up saving an estimated $522.

The MyFlex Advantage card can be used at hospitals, physician offices, dental offices, vision service centers, and pharmacies that accept MasterCard. The card is protected by a high-level security system equivalent to those used by ot
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