[Resolved] Frank CrumFlexible spending account

To whom it may concern

During this time when you are handling your health savings, flexible spending accounts connected with their health coverages, please take the time to evaluate how this company offers these accounts and how they are reprenting these benefits. I have just been a victim of of one of their predatory solicitations/offer for one of these accounts through Frank Crum. They offered it to me without fully disclosing the negative side of these accounts. It was presented that I would be contributing to the account on a pre tax basis and I would be able to draw against the funds that I deposited at anytime during the year for uncovered medical expenses and copays. What they fail to tell you when you are presented these types of benefits is, after you sign up and contribute to these accounts and if you lose your job you also forfeit all monies that are unused immediately. This creates a windfall of profit on the backs of citizens that have already suffered a job loss. They have learned that when this occurs they use the "IRS" Guidelines" as to why they get to keep your contributions. They never presented me with a "full disclosure" before I signed up. They only offered the "positive boilerplate benefits". It never crossed my mind nor did they offer a full explanation of how the system works. They only try to get you signed up! At no time did they present the facts or consequences. Just "Hey, sign up for this and we will manage your money to pay against your uncovered expenses". Why would I gamble with my hard earned money when I can take the deductions and apply it to my Adjusted Gross Income at the end of the year?


  • Resolution Statement

    Customer Service has done everything in their power to resolve the complaint. All attempts to contact the customer have failed. Therefore, the complaint has been annulled and must not be considered where image of the company in question and its services are concerned.

  • FrankCrum Customer Care's Response · May 03, 2017

    We are sorry to hear of your above experience. I have spoken with our Benefits Manager; our service platform allows for electronic enrollment. Within the enrollment option, there is a terms and conditions box that provides details on the entire program, including what occurs in the event of termination. If you have additional questions, we have our Benefits team available to assist you. Please call in to [protected] and ask to speak to a member of Benefits. Thank you.

  • FrankCrum Customer Care's Response · May 03, 2017

    For further clarification, a participant in this situation is offered COBRA and allows them to make the monthly contributions and continue their period of eligibility and therefore is not at risk of losing the money, as long as they make the FSA COBRA payments and incur eligible claims. This allows for continued access to funds. We urge you to call and speak with our Benefits team to learn more about this option; again, that number is [protected]. Thank you!

May 01, 2017

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