University Human Resources
IU Benefit Card Option
TSB Healthcare Reimbursement Account participants have two options for reimbursements:
- Pay for services out-of-pocket and submit claims to Nyhart for reimbursement by electronic fund transfer, or
- Pay using the IU Benefit Card option.
Note: The IU Benefit Card option does not apply to the Dependent Care Reimbursement Account expenses.
The card does not change any of the TSB plan rules for eligible expenses. The expenses must be IRS-eligible health expenses. See the TSB plan details for more information.
- IU Benefit Card Terms and Conditions (coming soon)
How the IU Benefit Card Option Works
The IU Benefit Card is a debit-type Visa card, issued by Bankcorp Bank, a national financial services company, that allows participants to pay for purchases and services from their TSB Healthcare Account, their Health Savings Account, or both.
For employees who elect to participate only in the TSB Healthcare account (not the HSA), the card is voluntary and only issued upon request. Employees may request a card online during benefit enrollment. Cards cannot be obtained after this request period until the next Open Enrollment. Each employee will receive two cards per family. Employees may obtain additional debit cards, for use by other family members, by paying an additional bank fee. Additional cards can be ordered using the form on the Nyhart Web page (iu.nyhart.com) or by calling Nyhart at 1-800-284-8412. When giving cards to family members, remember the employee is responsible for substantiating purchases on all cards, as requested by Nyhart.
The IU Benefit card is effective for three years and participants can continue to use the card for that period as long as they enroll in either the TSB or HSA each year. New cards are automatically reissued as they expire. The card does not apply to the TSB Dependent Care Reimbursement Account.
The employee should retain receipts for all purchases made with the IU Benefit Card. The employee may receive a request (e-mail or U.S. mail) from Nyhart to substantiate purchases with receipts. They should then mail, fax or email their receipts with a copy of Nyhart’s request to Nyhart. If purchases are not substantiated within 30 days, the card will be deactivated until receipts are submitted.
If the card is inadvertently used to purchase ineligible items, the participant must repay their TSB Healthcare account. The employee will be notified by Nyhart if ineligible expenses are detected from the receipts.
For those enrolled in both the HSA and the TSB HealthcareReimbursement plans, the card can be used for BOTH accounts. In this situation, the card is set up as a “stacked card”. That means that when the card is used at medical or pharmacy providers, the card will automatically draw from the HSA account funds. When the card is used at dental and vision providers, the card will automatically draw from the TSB funds first, then the HSA funds if the TSB funds have been exhausted.
When the employee has both the HSA & TSB accounts, the TSB Healthcare account funds can only be used for dental and vision expenses until the HDHP deductible has been met for the year. Proof of meeting the deductible must be provided to Nyhart. Once the deductible is met for the year, the funds in the TSB can be then used for medical and prescription expenses, HOWEVER, the debit/Visa card will only pull medical and prescription expenses from the HSA account. To use the funds in the TSB for post-deductible medical and prescription expenses, you will need to pay for the expense out-of-pocket then submit a claim for reimbursement to Nyhart.
Just like a credit card, lost or stolen cards must be promptly reported and deactivated. To report lost or stolen IU Benefit cards, contact Nyhart at 800-284-8412.
For additional information regarding the IU Benefit card, see the Questions and Answers section.