Substantiation and Verification
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The IRS requires that all Healthcare Card transactions must be verified by the Plan Administrator. We are required to verify purchases made with your AXIS MasterCard® debit card.
To ensure all debit card transactions are properly verified, Participants should remit, via fax or mail, a FlexAccount Expense Substantiation Form to AXIS within 30 days of the service date including all related itemized receipts. An itemized receipt or invoice from the provider must list: exact date(s) of service, description of service and amount paid by Participant. A credit card receipt or balance-forward statement is NOT sufficient per IRS guidelines. A FlexAccount Expense Substantiation Form is available for download by clicking here or by contacting AXIS at (888) 417-2947
If a transaction is not verified within 30 days, AXIS will send a written request for verification to the Participant.
The following transaction types will not require verification:
- If the dollar amount of a transaction at a health care provider equals the dollar amount of the co-payment for that service under a major medical plan of the specific Participant, Spouse or Eligible Dependent(s), the charge is fully substantiated without the need for submission of a receipt or further review.
- Recurring expenses that match expenses previously approved as to amount, provider and time period are considered fully substantiated without the need for submission of a receipt or further review.
- The merchant, service provider, or other independent third-party (e.g. pharmacy manager), at the time and point of sale, provides information to verify that the charge is for a medical expense.
If a claim is unsubstantiated, the following protocol will take place to resolve the Participant account:
- AXIS will request reimbursement for improper claim amount from Participant
- If AXIS is unable to obtain reimbursement from Participant, the Participant’s wages could be garnished.
- If payment still remains outstanding, AXIS will offset any future, substantiated claims against the amount due for any balance due for the unsubstantiated claim.
- If the aforementioned methods are unsuccessful, AXIS will move forward, treating the debt as it would any other outstanding balances consistent with its business practices.
By keeping receipts and records, the Participant minimizes the chances of a claim being denied.