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EMPLOYER DEBIT CARD INFORMATION The debit cards are valid for up to three years.Employees should be instructed not to throw away the card when they have reached a zero balance or at the end of the plan year. The debit card functions as a credit card at the point of sale. If the employee is presented with the option at the merchant terminal of choosing credit or debit they should always select credit (selecting debit would prompt the employee to enter a PIN number which they do not have.) The debit card can be used at all providers that have medical merchant codes.It can also be used at stores that have non-medical merchant codes (such as grocery stores and discount stores) who participate in the IIAS (inventory Information Approval Substantiation) system.IIAS stores such as Target, Longs and Sam’s Club have the ability to approve allowable medical related expenses at the point of sale. This means that no further substantiation will be required.For current information on which merchants are participating in the IIAS program can be found at www.sig-is.org. Employers should notify TBS of the termination of an employee as soon as possible so that their card can be deactivated. Your flexible benefit plan checking account will be linked to the debit card. The “ACH Authorization Release” form allows the connection to be made.On the Employer Specifications for the Debit Card form you can indicate at what dollar level your balance should be to receive notification from mbi.There is penalty imposed by mbi when the account balance falls into the negative. Employees will be able to access their account information on-line at www.benefitspaymentsystem.com. Employers can also be set up to access information and reports on-line when the account balance falls into the negative. Debit card payments will be made for goods and services for the Service Types listed on the Guidelines for Debit Card Expense Reviews form. All payments will be subject to a system review and some paid amounts will need further substantiation by the employee. The parameters for review are listed on the form. It is essential that employees SAVE THEIR RECEIPTS |
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