The reimbursement plan feature allows employees to submit a single claim for an eligible out-of-pocket expense that exceeds their available account balance. Once approved, the claim automatically initiates a reimbursement plan.
Reimbursement plans—and their duration (either ending at the close of the program year or continuing year over year)—are configured at the company level. These settings can then be applied to individual accounts as needed.
After the claim is approved, the employee will first be reimbursed the remaining balance in their account, then will continue to be reimbursed in installments at each renewal period until they receive the full amount, or until the end of the program year (based on the setup). The reimbursement installment will be deducted from the employee’s account on the second day of the funding renewal period.
If an employee has an active subscription through the Forma Store and also has a reimbursement plan, the subscription will be processed first. Any remaining funds will then be applied to the reimbursement plan.