SHPS offers Electronic Funds Transfer, a simple solution for you to expedite your claim payments. With EFT you can receive your claim payments within a few days after your claim is processed.

Download an EFT authorization form if you want your Flexible Spending Account reimbursement deposited directly into your bank account.

How to Complete the EFT Form

• Provide all the personal information, including your UMID (if known) or U.S. Social Security Number in the allocated section. To begin receiving your account reimbursement statements via email, you must provide your email address.
• Section A must be completed for processing. Enter the banking information from your check, in accordance with the example.
• Tape a copy of a voided check or deposit slip in the lower left corner. The tape should be placed vertically on the left and right edges of the check. Do Not Staple.
• Select the account type: checking or savings (check one box only).
• Sign in the Employee Authorization section. Processing cannot begin without a signed form.
• Validate all information and mail the completed and signed SHPS Electronic Fund Transfer Form to the address provided.

EFT Account Setup
Once account information is received, SHPS records, validates, and updates each EFT participant's record with his/her routing number and account number. The file is then put into a "Pre-note" status for a period of 10 days. Pre-noting an account is the process of forwarding a zero payment transmission to the account to verify the accuracy of the account information. If the transmission is not rejected within the 10-day period, the information is considered accurate. Once the pre-note period expires, all claim payments will be issued via EFT.

Payment Notification
Without the use of EFT, checks are attached to an Explanation of Benefits (EOB) detailing the claim payment. With the use of EFT, claim payments may or may not result in receipt of an EOB. The following details the notification process:

Total Expense Paid. There will not be an EOB issued. You can access the SHPS.net FSA Online Inquiry for account and payment information or your bank statement will reflect the EFT deposit. You can also access the Interactive Voice Response (IVR) System, AccountLINK, for claim payment and balance information.

Partial Payment. An EOB is issued detailing the reason for partial payments. To determine method of payment, AccountLINK can be accessed.

Full Denial. An EOB is issued detailing the claim denial.