FLEX YOUR
PLASTIC

popular health care benefit is about to get plastic surgery.
     Thousands of companies offer flexible spending accounts, which let employees set aside pre-tax dollars to pay for out-of-pocket medical expenses, co-payments and deductibles. But the accounts can be cumbersome, often requiring employees to submit forms and receipts in order to be reimbursed.
      Now the IRS has ruled that it's OK to link a flexible spending account to a stored-value card. Instead of submitting a form, you can just present your card to your doctor or pharmacist, who will then debit your account directly.
      Some cards have a Visa or MasterCard logo, but they block ineligible purchases, such as shampoo at a pharmacy counter. Next year Humana will offer its employees a "Benny" card, which not only debits a flex account but also does duty as an insurance and prescription-drug card.
— CATHERINE SISKOS