Understanding Your mySourceCard
What is a mySource Card?
A mySource card is a debit card that allows you to have easy access to the funds in your FSA and/or HRA Account.
Where can I use the card?
The mySourceCard operates through programmed merchant codes. Each provider that accepts MasterCard is assigned a Merchant Category Code. There are over 500 such codes; however, only those codes related to eligible expenses under your plan are programmed on the card. Qualified merchants include:
- Dentists / Orthodontists
- Vision Providers
- Retail merchants using the IIAS (Inventory Information Approval System)
How the Card Works:
Simply present the mySourceCard when purchasing eligible expenses from qualified merchants; the funds will be paid directly from your reimbursement account. The available credit on your card will be the available balance in your account.
The mySourceCard works just like any other debit card; but, there are 5 major differences:
- Limited to specific merchants deemed eligible by your plan
- Limited to expenses deemed eligible by your plan
- Card can not be used at the ATM
- Card will not allow “cash back” with a purchase
- There is no PIN
Receipts may or may not be required – Some card swipes for eligible purchases may auto-substantiate which alleviates you from having to submit additional documentation. However, if any card transaction does not auto-substantiate IRS requires additional documentation to be submitted, you will be notified via e-mail if you need to submit documentation.
Things to Remember:
- Keep all your receipts
- You might be required to submit receipts to verify expense eligibility
- The card is only valid at eligible merchants
- Card can be used up to the amount available in your account
- Transactions over the available amount will be denied
- 24/7 access to account information at www.myrsc.com