What is the status of my Health FSA Account?

Please note that Texas Capital Bank (the “Bank”) asserts a lien on all the assets of the Assignors. Accordingly, the Assignee has no access to funds, except for some funding provided by the Bank for the wind-down of the estates.

We understand that some of the employees contributed to their FSA accounts. The Assignee has not been able to identify any funds related to your FSA account that were segregated by Laser Spine Institute. As is common for FSA plans, it is my understanding that all of the funds were held in LSI’s general operating accounts. Unfortunately, given LSI’s insolvency, those funds are all subject to the Bank’s lien and are not available to pay FSA benefits. The filing of a proof of claim is the exclusive method for you to share in any distribution from the assignment estates. A link to the proof of claim form can be found on this website in the Creditors and Claims section

The deadline to file a proof of claim is July 12, 2019.

Disclaimer

This website is created and maintained by the Assignee, solely in his capacity as the Assignee of Laser Spine Institute, LLC. The information contained on this website is provided for informational purposes only and should not be construed as legal, financial or other professional advice or, unless expressly stated, as the Assignee’s official position on any subject matter. Users of this site should not take or refrain from taking any action based upon content included in the site without seeking legal counsel on the particular facts and circumstances at issue from a licensed attorney.

The Assignee does not guarantee or warrant the accuracy, completeness, or currency of the information that is provided herein and shall not be liable to you for any loss or injury arising out of or caused in whose or in part by the acts, errors or omissions of the Assignee, whether negligent or otherwise, in procuring, compiling, collecting, interpreting, reporting, communicating or delivering the information contained on this website. The Assignee expressly does not undertake any obligation to update, modify, revise or re-categorize the information provided herein, or to notify you or any third party should the information be updated, modified, revised or re-categorized. In no event shall the Assignee be liable to you or any third party for any direct, indirect, incidental, consequential or special damages (including, but not limited to, damages arising from the disallowance of a potential claim against the Debtors, or damages to business reputation, lost business or lost profits), whether foreseeable or not and however caused, even if the Assignee is advised of the possibility of such damages. This website should not be relied on as a substitute for financial, legal or other professional advice.

It is your obligation to maintain accurate records and to notify the Assignee of any changes in your contact information. This website is being made available merely as a convenience to interested parties and the public. Electronic mail or other communications through this site or otherwise to the Assignee, his counsel, or professional advisors in connection with these or other matters will not be treated as privileged or confidential. Transmission and receipt of the information in this website and/or communication with the Assignee or his legal counsel via email is not intended to solicit or create, and does not create, an attorney-client relationship between the Assignee’s legal counsel and any person or entity. The Assignee does not endorse or warrant and is not responsible for any third-party content that may be accessed from this website.