Debit Card Frequently Asked Questions
No claim filing - No waiting for reimbursement
Simply use your debit card when you want to pay for un-reimbursed medical,
dental, or vision services. The card will transfer the funds directly from your
account to your provider or retailer/merchant. You won’t have to pay cash up
front or submit a claim reimbursement form and wait to get reimbursed.
However, it is important that you keep all itemized documentation for the entire
plan year in the event this information is requested by SelectAccount, to comply
with IRS regulations.
How does my debit card work?
The debit card electronically accesses your spending account to pay for eligible
expenses. You can use your card at merchant locations wherever VISA is
accepted. Debit cards associated with a VEBA and a flexible savings account
(FSA) are subject to additional requirements. They must be used at either
qualified medical merchants or with merchants with an inventory information
approval system (IIAS). Qualified medical merchants include physician & dental
offices, and vision providers. You may be required to provide substantiation to
SelectAccount after the fact for these transactions. Your card can also be used
for the purchase of eligible medical goods such as over the counter medical
purchases at IIAS merchants. This system will substantiate your purchase at the
time of purchase so no after the fact substantiation will be required. A list of IIAS
merchants can be found at sig-is.org. Some retailers/merchants that have
implemented IIAS include Target, Wal-Mart, Cub Foods, Rainbow Foods, CVS,
Snyder Drugs and Costco Wholesale.
As you incur eligible health care expenses, you simply present your debit card for
payment. The system will validate that you have available funds to cover the
transaction. A list of eligible expenses can be found at selectaccount.com.
You must retain documentation of your expenses, as you may be required to
provide documentation of your transactions. The IRS only allows certain
transactions to be approved without itemized documentation. Documentation
includes an itemized receipt with the merchant’s name, name of the item/product,
date of service and the dollar amount.
When will I receive my debit card?
You will receive your card within 45 days after submitting the application to
SelectAccount. You'll be receiving your debit card directly from our card issuer,
M&I Bank
How do I activate my card?
(SelectAccount staff CANNOT activate a card for a member unless the
member is conferenced in on the activation call.)
To activate and use your card, follow these steps:
1. Read the enclosed Cardholder Terms and Conditions Agreement and call
1-866-772-8479 to activate your card.
2. Sign the back of the card to indicate that you understand and accept the terms
of this agreement.
3. Use the card to pay only for eligible products and services.
4. Always save your receipts with your other documents used for tax filing
purposes.
Is this process completely paperless?
Using your debit card to pay for your portion of health care expenses eliminates
the need to submit a claim form for reimbursement, which reduces your
paperwork. However, in order to meet IRS guidelines, documentation of your
expenses may be required. Therefore, you must keep copies of all detailed
original merchant receipts and itemized statements (not the credit card receipt)
for each purchase within the plan year. You may receive a letter from
SelectAccount requesting documentation of an expense, which would require
you to submit this information to SelectAccount to comply with IRS regulations.
If you did not pay your medical provider at the time of service, you can often write
your debit card number on the bill you receive from your provider or call their
business office and give the number over the phone. Remember, wait until your
health plan has processed the claim and sent you an EOB (Explanation of Health
Care Benefits) before paying if you have coinsurance or deductibles. You will
want to pay only what the health plan did not pay.
How do I access my account information?
Employees can view account balances online by visiting selectaccount.com.
You’ll have access to online planning tools, account history and contribution
options.
Can I use my card for a partial payment?
No. If you have some funds in your account, but not enough to cover the full
charges in the transaction, no funds will be released.
Can I use my debit card for cash?
No. The debit card will not work for cash withdrawals from an ATM machine.
Can my debit card also be used as a credit card?
No. This card is a debit card, not a credit card. It is only good for the account
funds available. If an employee does not have sufficient funds in the account for
the full amount of the charge, the transaction will be denied.
Can I use my card for online purchases?
Yes, in many cases you can use your debit card for online purchases, such as
prescriptions, if the site is a medical merchant.
Why doesn’t my card work?
• Have you activated your card? To activate your card, call the number on
the sticker on the front of the card: 1-866-772-8479.
• Check your balance to make sure you have enough funds to cover the
entire purchase. You can check your balance 24/7 by calling
SelectAccount toll free at 1-800-859-2144 or online by visiting
selectaccount.com.
What if I lose my debit card?
Notify SelectAccount at once if you believe your card has been lost or stolen. Call
toll free at 1-888-226-5417.
Will I receive a new card each year?
No. The card is valid for a three-year period. A new card(s) will be sent
approximately two weeks prior to the expiration date.
What can I use it for?
• Eligible expenses for VEBA include medical and dental deductibles and
co-payments, eye exams, prescription drugs, orthodontia treatment,
physical therapy and chiropractic care, medical devices, such as hearing
aids and diabetic testing supplies, and smoking cessation programs.
• Ineligible expenses include athletic club membership, cosmetic surgery
and procedures, diaper service, health programs offered by resort hotels,
health clubs and gyms, supplements (unless used to treat a specific
medical condition), etc. A more detailed list is available at
selectaccount,com (“VEBA eligible expenses”).
Can I have additional cards on the same account? Yes, you can have a
second card.
Can other family members use the card? The second card could be either
used by your spouse or a college student, for example. Other dependents may
not use the card. If you have dependent coverage with your health plan, the card
can be used to pay eligible expenses on your dependent’s behalf.
What kind of reporting do I get?
You can go online at any time to check your balance or review debit card
transactions. You can check your balance 24/7 by calling SelectAccount toll free
at 1-800-859-2144 or online by visiting selectaccount.com.
What receipts do I need to save? Why do I need to keep receipts for tax
purposes?
Using your debit card to pay for your portion of health care expenses eliminates
the need to submit a claim form for reimbursement, which reduces your
paperwork. However, in order to meet IRS guidelines, documentation of your
expenses may be required. Therefore, you must keep copies of all detailed
original merchant receipts and itemized statements (not the credit card receipt)
for each purchase.
Who do I call with questions or issues?
Call SelectAccount customer service at (651) 662-5065 or toll free at 1-800-8592144.
Who is SelectAccountSM? SelectAccount is the VEBA/FSA account
administrator used by your employer.