What: See below
Action Required: None
Key Dates: None
Impacted Audiences: Employees enrolled in the MERS Health Care Savings Program at separation from employment
For More Information: Contact the MERS Service Center at 800.767.6377
Key Information:
In order to ensure that participants understand how their Health Care Savings Program account funds can be used in compliance with IRS regulations, MERS recently began providing more detailed information to employees when they separate from employment (either to retire or for other reasons). When an employee is reported as “terminated” to MERS, we mail them a letter and other resources that help your employees understand how to use their account. Sample materials:
These resources are also available on our website here.
Additionally, following verification of eligibility, they will receive a letter from Alerus with two Health Benefits debit cards which can be used to make qualified medical expense purchases. This option is great when paying for prescriptions at a pharmacy or co-payments that aren’t adjusted after the point of sale.
Please note – per Internal Revenue Service regulations, most debit card transactions will require participants to submit documentation verifying that the purchase was an eligible expense. Typically the documentation needs to include the following information:
- Provider Name
- Service(s) Received or Item(s) Purchased
- Date of Service
- Amount of Expense Incurred