Flexible Spending: TASC (Total Administrative Services Corporation)
Carleton College has engaged TASC (Total Administrative Services Corporation) as our third-party administrator for our flexible spending account plans for the plan year beginning January 1, 2011.
TASC will provide Carleton College participants with a TASC Card. This TASC card is a convenient tool to pay for eligible health care and/or dependent care expenses. Qualifying purchases are paid directly from the participant's FlexSystem account balance, thereby effectively eliminating out-of-pocket expenses and the need for reimbursement.
The TASC Card automatically tracks and enters your health-related transactions. Use your TASC Card to pay for medical expenses at clinics, optometrists, dentists, and pharmacies. The card can also be used for daycare expenses.
Our participants will receive one card upon enrollment; a second card for an eligible dependent can be requested (at no expense). Subsequent cards can be ordered for a $10.00 processing fee. There is no annual fee for this card and it is a convenient and instant reimbursement process.
- FAQ's About the TASC Card
- OTC (Over-The-Counter Healthcare Expenses and Use of Debit Cards
- TASC Card Application (for your dependent)
- Flexible Spending Account (FSA) Eligible and Ineligible Expenses
Claim Reimbursement Methods
Carleton College participants will have access to their own personalized reimbursement wizard on your MyTASC online page. This tool will assist you in submitting your claim(s). Submitting requests for reimbursement on-line, through fax, or mail are possible. Utilize the Participant Reference Guide to assist you with your FSA account. Participants who are faxing their entire flexible spending claim (including the Veriflex Cover Sheet and supporting documents) should fax to TASC at 608-663-2762.
TASC's FlexSystem processes requests for reimbursements daily. Most approved requests received before noon CST by TASC will process that day with reimbursements initiated the following day.
Participants are encouraged to establish direct deposits with TASC. Please note: A service fee of $30.00 is charged to a participant for reissue of a lost, stolen, or expired paper-copy check. With direct deposit, funds are forwarded to your bank within 48-72 hours of a complete submission. Visit MyTASC to set up your direct deposit.
Medical flexible spending account (FSA) contributions will be capped at $2,500 per plan year, per employee, as set forth by the Patient Protection and Affordable Care Act (PPACA).
The following guidelines apply to this health care regulation:
- The limit was in effect January 1, 2013 and is an ongoing limit for January 1, 2014.
- The limit applies only to employee salary reduction contributions to a medical FSA.
- Limit is for the plan year, per employee, and per employer.
- Employee and spouse/domestic partner can both elect $2,500 in their respective health FSAs (even if they work for the same employer).
- Employees changing jobs can elect $2,500 in their prior employer's medical FSA and $2,500 in their new employer's medical FSA as long as the employers are not related entities.
- Rehired employees and employees with a qualifying change in status mid-year are limited to $2,500 for the entire plan year.
- Limit must be pro-rated based on the number of months for short plan years (plan years less than 12 months). Please Note: This item does not apply to Carleton College.
- Limit is indexed annually for cost of living adjustments.
It is important to be conservative in making elections because any unused funds left in your account at the close of the plan year are not refundable to you and are turned to your employer instead. You are urged to take precautionary steps, such as tracking account balances on the FlexSystem website and/or using the Interactive Voice Response System (1-800-422-4661) to avoid having funds in your account at year end.
**Carleton College offers a grace/run-out period which will further reduce risk of forfeiture; however, employees should be mindful to check year-end account balances to avoid potential forfeiture risk.
General Information regarding flexible spending accounts:
Flexible Spending Accounts (FSA)
Employees may set aside in a Flexible Spending Account (FSA) a pre-established amount of money per plan year on a pre-tax basis. The employee can use the funds in the FSA to pay for eligible medical, dependent care, or transportation expenses.
Benefits to the Employee:
An employee who participates in the FSA must place a certain dollar amount into the FSA each year. This "election" amount is automatically deducted from the employee's check (for that amount divided by the number of payroll periods). For Carleton, the deduction would be captured within 12 months (faculty and exempt staff) or 26 bi-weekly payrolls.
Plan Year and Grace/Run-Out Period:
Our plan year is one full year (365 days); it begins January 1. The Grace Period is a time frame of 75 days after the end of the plan year. Expenses can be incurred by March 15th of the following year to utilize the remaining funds from the previous plan year. Requests for reimbursement fall within the Run-Out Period (April 30th) to submit request for reimbursement for expenses incurred during the dates of service within the plan year and Grace Period.
For a medical expense (Health-Care) spending account, a participant may claim the full amount of their annual election even if they have contributed only a portion of the total. This is a huge advantage for participants that allows them to experience medical expenses at any time of the year without worry about having funds available at the time the expense is incurred.
For a dependent care spending account, a participant's reimbursement may not exceed the balance in their flexible spending account at the time the claim was made. Additionally, with a dependent care spending account, expenses may not be reimbursed until they are actually incurred (i.e. after the care has been provided and not when the participant is formally billed, charged for, or pays for the dependent care). Even though some day care providers require advance payment for services, you cannot be reimbursed for the expense until after the care has been provided.
The Use-It-Or-Lose-It Rule
Employees who participate in a FSA should determine the amount to fund by looking at the expenses they will incur in a year. It is important to closely evaluate this, as failure to spend down your account has risk of forfeiture back to the employer.
The tool below can assist participants to evaluate your expenses and tax savings.
Reimbursements are fast and convenient.
On those rare occasions when you do not use your TASC Card to pay for an eligible employee benefits
expense, you can submit a request for reimbursement via fax, mail, or online. Unless you have elected direct deposit, your employee benefits reimbursements will now be deposited directly in your MyCash account — no more waiting for checks to arrive by mail! (Paper reimbursement checks will be issued on a limited basis and only upon request. A convenience fee may be applied per check.)
Use your MyCash funds just like cash at any retailer that accepts Visa.
Purchases are not limited to a merchant or by type of expense. It’s cash! You can withdraw your MyCash funds at an ATM (with a PIN). Spend your MyCash funds any way and anywhere you want — with the swipe of your card. (It works just like a cash card!)
Use the TASC Card your way!
Now that you have two accounts on one card, the TASC Card is more versatile than ever!
Avoid embarrassing declines.
MyCash funds can be used to pay for eligible expenses if no funds are available in your MyBenefits account.
Purchase retail and healthcare items together in one transaction.
The TASC Card is smart enough to know that expenses eligible under your benefits plan are automatically deducted from your MyBenefits account while ineligible expenses (i.e. greeting cards, snacks, over-the-counter drugs with no prescription) are withdrawn from your MyCash account. No longer must eligible and ineligible expenses be paid with two different forms of payment.
Transfer funds in MyCash to a personal savings or checking account.
Use Quick Transfer at any time and in any amount (up to the fund balance). After all, these funds are yours and may be used freely and without restriction.
Save money with MyCash!
Use your MyCash funds as a “special stash” for a vacation or shopping spree.
Here's an example of how it works:
John goes to the pharmacy for a prescription and a greeting card. At checkout, the clerk rings up his purchases altogether and John swipes his TASC Card. The prescription is paid from his MyBenefits account, while the greeting card comes out of MyCash. John no longer needs to present two forms
A private and secure portal allows you to easily track card activity. Login to MyTASC (www.tasconline.com/MyTASC), go to Participant Manager, TASC Card Management, then click on the MyCash Account link in the upper right corner.
• Check your balance
• View recent activity
• Request a PIN (for ATM use)
• Make a transfer to a personal account
• Sign up for free email and text notifications
- You will not receive a new TASC Card. The MyCash account will be automatically activated on your current TASC Card.
- Always use your TASC Card as a credit card when swiping it for MyBenefits and/or MyCash purchases. (At an ATM, withdraw from “Savings”.)
- Currently MyCash (non-FSA) purchases may not be made at CVS Pharmacy, ShopKo, and Walmart, or for pay-at-the-pump transactions. (MyBenefits works.)
- If you do not want your employee benefits reimbursements to be deposited in your MyCash account, simply elect direct deposit instead. To do so, login to MyTASC (www.tasconline.com/MyTASC) and clickDirect Deposit Setup, or submit a MyService Request (from MyTASC, click Contact Us), or call Customer Care at 1-800-422-4661.
- If you terminate from Carleton College, you may continue to access your MyCash funds until they are depleted. You will be responsible for a $5 monthly maintenance fee which may commence 90 days following termination.
MyTASC Mobile App
TASC Mobile offers fast and easy access from anywhere at any time! MyTASC Mobile App and MyTASC Text Messaging make it easy for FlexSystem participants to access their accounts from their mobile device. Users will appreciate this wireless option to securely manage your account and request reimbursement while you are on the go!
The TASC Mobile App is available at no charge for participants/employees who possess the following:
- MyTASC username and password (established through the MyTASC website.
- Mobile device (phone or tablet) with an Apple or Android operating system.
MyTASC Mobile App Features
- FREE download from the Apple® App Store or Android Market™ to user’s mobile device.
- Easy login with current MyTASC username and password.
- User information is protected through Secure Socket Layer (SSL) encryption over the Internet.
MyTASC Mobile App Functionality
- Check real-time balances on FlexSystem accounts.
For TASC Mobile Materials:
For additional support:
TASC's Customer Service stands ready to assist you with your FSA questions. You will need your TASC 12-digit ID available when contacting them.