The IRS has issued Notice 2006-69 providing guidance addressing these topics: (1) the use of debit cards, credit cards, and stored value cards to reimburse participants in flexible spending accounts and health reimbursement arrangements, (2) the substantiation requirements that apply to all medical reimbursement plans whether or not a card is used, and (3) the use of cards to reimburse participants in dependent care assistance programs, including dependent care flexible spending arrangements. The Notice builds on the previous guidance issued in Rev. Rul. 2003-43 which you can read about in a number of previous posts here.
More Guidance on Debit/Credit Cards for FSAs/HRAs
The IRS has issued Notice 2006-69 providing guidance addressing these topics: (1) the use of debit cards, credit cards, and stored value cards to reimburse participants in flexible spending accounts and health reimbursement arrangements, (2) the substantiation requirements that apply…