Transcription of Section 125 (FSA) Administration Guide
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Section 125 (FSA) Administration Guide
Section 125 (FSA) Administration Guide Intentionally Left Blank Section 125 Administration Guide 2009 WageWorks, Inc. i TABLE OF CONTENTS Guide OVERVIEW .. 1 Additional Section 125 Resources Available .. 1 Other Resources Available .. 1 WHAT IS A Section 125 plan ? .. 2 DEFINITIONS .. 4 IMPLEMENTING YOUR ACCOUNT .. 6 Implementation Calls .. 6 1. Materials Review Call .. 6 2. Web Site Training Call .. 6 3. Payment Card Call .. 6 Implementation Task List .. 7 BANKING ARRANGEMENTS FUNDING YOUR plan .. 8 Direct Deposit .. 8 Select your Service/Funding Option .. 8 Rapid Claims Account Service .. 8 Weekly Account Service .. 9 Establishing your Flex Benefits Payment Card .. 9 New Drug Store Only Payment Card Option .. 9 Setup Items Needed .. 10 Payment Card Process .. 10 Requesting debit cards.
Section 125 Administration Guide 125.200.10 © 2009 WageWorks, Inc. 2 SECTION I – INTRODUCTION TO SECTION 125 ADMINISTRATION WHAT IS A SECTION 125 PLAN? An IRS Code Section 125 plan acts like an “umbrella”, allowing employers to offer benefits on a pretax
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