Q. How do I set up and fund the FSA?
Your FSA funding account is in Humana’s name and at Humana’s bank. This account covers FSA debit card transactions as well as manual reimbursements. Humana pays all bank fees, sends updates on expenditures and deposits, and performs monthly reconciliations.
At least two weeks before the effective date of the plan, you put an initial deposit in the FSA funding account by check or electronic transfer. This deposit acts as a buffer in the bank account. As Humana processes claims, we pull funds from the bank account you designate to replenish funds through electronic transfer, so the Humana account used to pay claims remains at the agreed-upon balance.