Your Kazdon healthcare benefit accounts are regulated by the IRS. You must have a receipt or an explanation of benefits from your insurance carrier for each claim you submit against your account.
Even when you use your Kazdon Healthcare Card to pay for eligible expenses, you may still need to provide a receipt. Learn more about card use verification in the Employee Help Center.
What does this mean for you? Save each and every receipt.
Yes, it’s a pain. But the IRS makes the rules and we all have to follow them. Saving and submitting each receipt is the quickest way to process your claims and get reimbursed from your account. Here are a few ways to make it easier to manage your receipts.
Receipt Requirements
For quick processing, make sure all receipts include these five pieces of information:
1. Patient’s Name. The name of the person who received the service or for whom the item was purchased. For retail store purchases, this information may be excluded.
2. Provider’s Name. The provider that delivered the service or the merchant where the item was purchased.
3. Date of Service. The date when services were provided or the item was purchased.
4. Type of Service. A detailed description of the service provided or item purchased. A bag tag is sufficient for prescriptions.
5. Cost. The amount paid for the service or product and/or the portion that is not reimbursed through your insurance carrier.
Do’s and Don’ts for Submitting Receipts
When submitting receipts as part of a claim against your Kazdon healthcare account, follow these simple do’s and don’ts.
- DO use your Explanation of Benefits (EOB), especially if your insurance paid a portion of the expense.
- DO make sure your receipt is legible; check that it isn’t too dark or light and that information is not cut off.
- DO include stamped provider information on handwritten receipts.
- DO NOT send cancelled checks, they typically do not include all five key pieces of information.
- DO NOT use highlighters on your receipts.
