The Summary of Material Modifications (SMM) informs participants and beneficiaries of changes to the SPD during the plan year.The Summary Plan Description (SPD) is a detailed description of what the plan provides and how it operates.The card will arrive in a plain white envelope for security reasons, so be sure to watch your mailbox.The card is valid until the expiration on the front. You will be sent a new debit card automatically upon enrollment and may request additional cards for your dependents.The merchant will process the transaction then the card company will then report the transaction to TASC.The card's advantage is that you do not have to pay with cash or a personal credit card.The card is accepted by healthcare and retail providers that accept MasterCard.The TASC FSA MasterCard Debit Card is a limited-use benefit card that will allow you to directly pay the merchant or healthcare provider from your health FSA account.This makes it much more convenient to use your FSA contributions.Your debit card will be pre-loaded with the entire amount of the deductions you selected for the plan year - the same card works for Healthcare and Dependent Care FSAs.You must re-enroll for the account(s) each year.įSA MASTERCARD DEBIT CARD FROM TASC The card has many benefits During New Hire Enrollment or Open Enrollment.Pay at point of service - You will automatically receive a MasterCard debit card to have the convenience of paying right at the doctor’s office or pharmacy.Since the account is fully funded upfront, you can immediately begin to use the funds at the start of the plan year (or, for new hires, when your plan goes into effect) to pay for eligible medical expenses such as deductibles, doctor visits, prescription drugs, glasses and more.
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