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Medcom Partners with FSAStore.com to Extend Access for Participants to Maximize Their FSA Funds(January 23, 2014)
Jacksonville, FL (PRWEB) January 23, 2014
Medcom, a provider of administrative services for Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Health Savings Accounts (HSAs), COBRA and Retiree Billing, and Health and Welfare Compliance Services, today announced a partnership with FSAstore.com, the only e-commerce site exclusively stocked with FSA eligible products and services. The partnership provides participants in the Medcom Flexible Spending Account (FSA) and Health Savings Account (HSA) programs a simple and convenient way to use their pre-tax funds. FSAstore.com is exclusively stocked with eligible products, so there are no eligibility guessing games. The site also offers tools and information to help participants better understand and use their funds including an Eligibility List, an FSA Calculator, and a Deadline Tracker to help participants maximize their FSA and encourage smart FSA habits.
Our partnership with FSAstore.com enriches our FSA and HSA offerings, making it easier for our clients participants to use their Medcom FSA and HSA Debit Cards and funds, said Michael J. Bracken, President of Medcom. For employers of all sizes, offering employee benefits such as a Flexible Spending Account and Health Savings Account can serve as a powerful tool for attracting and retaining employees, and offer tax savings to employers by reducing their payroll taxes.
Through the FSAstore.com partnership, Medcoms FSA and HSA participants have access to thousands of FSA/HSA-eligible products, a national provider database of FSA/HSA-eligible services, an Rx service for obtaining needed prescriptions for over-the-counter drugs, and an FSA Learning Center that offers helpful tools, resources, and answers to frequently-asked questions.
The partnership with FSAstore.com offers convenient access to features and products to Medcoms FSA and HSA participants meant to increase overall participation in these tax-advantaged accounts. When using an FSA debit card, participants do not have to worry about submitting manual claims and receipts to Medcom since purchases are auto-substantiated. Since the site exclusively offers FSA/HSA-eligible products and services, Medcom FSA/HSA participants can shop with confidence knowing the items and services they are seeking are reimbursable, and fully compliant with healthcare reform.
"FSAstore.com was founded on the idea that it should be simple and convenient to use an FSA," said Jeremy Miller, president and founder of FSAstore.com. "We extend that concept to our third party administrator partners with turnkey educational materials and information designed to educate and inform participants about their FSA options."
Employees currently enrolled in the Medcom FSA or HSA can learn more about the FSAstore.com partnership and start shopping by visiting the Medcom FSA and HSA employee site (http://www.emedcom.net/fsaextras). For more information about Medcom Flexible Spending Account and Health Savings Account programs, visit http://www.emedcom.net.
For the last four years, FSAstore.com has been the only e-commerce site exclusively stocked with FSA eligible products - eliminating the guesswork behind what is reimbursable by an FSA. Consumers with Flexible Spending Accounts can access thousands of high quality FSA eligible products, in addition to FSA eligible services, and much-needed information through the FSA Learning Center. FSAstore.com accepts all FSA and major credit cards, offers 24/7 customer service, one-to-two-day turnaround for all orders, and free shipping on orders $50+. There is no need to submit receipts for products purchased with an FSA or HSA card.
Founded in 1983, Medcom is a leading fringe benefit plan administrator and ERISA compliance specialist for health and welfare plans. In addition to offering comprehensive actuarial and ERISA compliance services, Medcom administers tax advantaged programs such as Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Health Savings Accounts (HSAs), Dependent Care Assistance (DCAP) and Parking and Transit programs. Medcom also provides professional, full service COBRA and Retiree Billing administration. For more information, visit http://www.emedcom.net.
Read the full story at http://www.prweb.com/releases/2014/01/prweb11508550.htm.