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Why Do We Ask For Receipts?

 Short Answer

When do we need a receipt?

  • When your expense is not equal to a standard copay amount (multiple of $5).
  • When you have a vision or dental related expense.
  • When your purchase is not cleared through an IIAS merchant.
  • When filing a claim for reimbursement.

When do we not need a receipt?

  • When your expense matches a standard copay amount (multiple of $5).
  • When your expense is recurring.
  • When your expense is cleared through an IIAS merchant.

What happens when you don’t send in a receipt?

  • By law, we are required to suspend the card.
  • After approximately 45 days with no receipt, the expense is set to be repaid.

 

The Official Word:  §1.125-6 :  Substantiation Requirements :  http://www.irs.gov/irb/2007-39_IRB/ar14.html

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