Sunday, June 18, 2006
OPM Pilots FSA Debit Card with GEHA
OPM announced last week that its flexible spending account (FSA) contractor SHPS is piloting a debit card for GEHA enrollees to use with their optional FSA. According to OPM, the FSA program has 7,600 GEHA participants, and "these pilot participants must continue to save all receipts so that SHPS, Inc., the FSAFEDS administrator, may verify expenses that can't be substantiated through paperless reimbursement. (For example, over-the-counter medicines.)" A good explanation of how these FSA debit cards work can be found here.