Card use verification or “CUV” is the process of confirming that a payment card was used to pay for an eligible expense. The IRS requires WageWorks to verify ALL WageWorks Healthcare Card transactions. Some verifications are automatic, others are not. As a result, it’s extremely important that you save all receipts from your card transactions.
WageWorks and its partners have worked hard to make your WageWorks Healthcare Card easy to use.
Your WageWorks Healthcare Card is for use at healthcare providers and pharmacies and general merchandise stores that have an IRS-approved Inventory Information Approval System (IIAS) that can identify eligible expenses at the register. When you use your card at an IRS-approved merchant, your card transaction is automatically verified at checkout. You will not be asked to later submit a receipt to verify those eligible expenses. Before using your card, always visit the sigis.org site for a list of approved merchants that have an IRS-approved inventory system in place.
But because doctors’ offices, hospitals, ophthalmologists and dentists perform some services that are ineligible expenses under certain accounts, card transactions at these providers must be verified by submitting a copy of your receipt to WageWorks. Keep in mind that although your WageWorks Healthcare Card may be accepted as a payment methods, you may still need to verify card use by submitting copies of receipts.
If WageWorks is unable to automatically approve a transaction as an eligible expense, we will ask you to verify the transaction by submitting a copy of your receipt.
You’ll receive a notice when you log into your WageWorks account if you need to submit a receipt to verify a card transaction. You can also sign up to receive a card use verification alert by email or text message. Email alerts are sent 5-20 days after the transaction date.
IRS rules specify that you have 90 days after the transaction date to submit a receipt to verify a card transaction. You have 90 days to:
After the 90-day deadline, your WageWorks Healthcare Card may be suspended, the unverified amount will be deducted from a future reimbursement claims, and any outstanding amounts may result in taxable event.
There are three easy ways to submit receipts to verify your card transactions:
The IRS requires that the receipts you submit to verify a card transaction must include these five pieces of information:
Please note a credit card receipt is not adequate for card use verification because credit card receipts don’t include all five pieces of information.
We know it’s a pain to be asked to submit receipts to verify your WageWorks Healthcare Card transactions. There are a few things you can do to cut down on the number of times you receive card use verification requests:
Use your card at merchants, drug stores, or pharmacies that have an IRS-approved Inventory Information Approval System in place. Find out if your local pharmacy or drug store has an approved system by visiting the sigis.org site for a list of approved merchants that have an IRS-approved inventory system in place.
When paying for a service at a healthcare provider, make sure your Explanation of Benefits (EOB) or other service documentation includes the five IRS-required pieces of information: