|Getting Prescription Drug Expenses Reimbursed Just Got Easier
December 9, 2008,
Volume 55, No. 15
If you’re enrolled in Penn’s Health Care Pre-Tax Expense Account and have coverage through Penn’s Caremark prescription drug plan, getting your prescription drug expenses reimbursed will be a snap once the new year arrives. As of January 1, 2009, you’ll no longer need to file claims for your eligible prescription expenses. They’ll be paid from your Health Care Pre-Tax Expense Account balance automatically.
It’s as easy as it sounds: you won’t need to send in any claim forms at all. When your prescription drug expenses are processed by Caremark, they’ll send your claims information directly to Penn’s Pre-Tax Expense Account administrator, ADP. ADP will then automatically reimburse you from your Health Care Pre-Tax Expense Account balance. You’ll receive your reimbursement check more quickly and easily. But keep in mind that you’ll still need to save your receipts in case the IRS requires substantiation of an expense.
A way to make this process even more convenient for you is to have your reimbursements directly deposited into either your checking or savings account. This way you won’t have to cash or deposit each reimbursement you receive and your check won’t be delayed, destroyed, or lost in the mail. You can find the Pre-Tax Expense Account Direct Deposit Authorization on the Human Resources website at www.hr.upenn.edu/Benefits/Forms.aspx.
If for any reason, you’d prefer not to have your prescription claims reimbursed automatically, you’re able to opt out at any time. Simply call the Penn Benefits Center at 1-888-PENNBEN (1-888-736-6236).
Remember that if you opt out of the automatic reimbursement process or if you’re not covered by Penn’s Caremark prescription plan, you’ll still be required to file claims for any eligible prescription drug expenses manually. And claims for all other eligible Health Care Pre-Tax Expense Account expenses will still need to be filed manually—this automatic feature only applies to eligible Caremark prescription drug expenses.
If you have any questions, please contact the Penn Benefits Center at 1-888-PENNBEN (1-888-736-6236).
—Division of Human Resources