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Important Information – Optum Bank(New FSA Carrier)


For those who enroll during annual enrollment, Optum Bank will send all newly enrolled medical FSA and limited purpose FSA (L-FSA) participants a debit card in December.  Employee should go online at optumbank.com/Tennessee to create an account and register your new debit card.

If you are enrolled in a dependent care FSA (DC-FSA) only, you cannot use a debit card, but you can create an online Optum Bank account in order to see your DC-FSA account balance, claims, and activity.

You can order an additional Optum Bank Card, your account debit card, once you log in at optumbank.com/Tennessee. New users will need to register first.

Employees who enroll in a medical FSA or L-FSA during annual enrollment will have their full election amount available to them upfront during the first week of January, or within approximately 3-4 weeks after they enroll.

Important 2020 FSA and L-FSA Carryover Information

Your current 2020 PayFlex FSA debit card will be shut off on 12/31/2020. Any amount in your account greater than $500 will be forfeited.

After 12/31/20, any 2020 claims must be filed via a paper claim form or electronic claim with PayFlex no later than April 30, 2021. You may do so by logging on to the PayFlex member site: stateoftn.payflexdirect.com or by filing a paper claim (form is on the website). Claims for 2020 dates of service received by PayFlex after April 30, 2021 will be denied.

If you have a balance of less than $500 in your FSA or L-FSA on 12/31/2020 and you do not have any 2020 claims to file with PayFlex, this balance will not be carried over to Optum Bank until July 1, 2021.  This means you will likely not have your carryover balance available until July 1, 2021.

For this reason, we strongly encourage you to spend down your FSA or L-FSA balance to zero by the end of 2020. Otherwise, you will not have access to your $500 or less carry over amount until July.

Current FSA and L-FSA participants who do not re-enroll for 2021 and who have a current balance of $500 or less will also not have access to their carryover balance until July 2021. After that time Optum Bank will open an FSA or L-FSA for your carryover funds.