System and method for processing flexible spending account transactions
US7174302B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 11, 2001 |
| Grant date | Feb 6, 2007 |
| Priority date | — |
| Expiry date | Jun 6, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG16H10/60
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system and method are provided for processing flexible spending account transactions involving a plurality of pharmacies, a service provider, one or more pharmacy benefits managers (“PBMs”), and individuals having flexible spending accounts (“FSAs”) and stored value cards for debiting their FSAs. The service provider maintains a PBM transaction database; receives from a pharmacy an authorization request at the time of purchase; queries the PBM transaction database for a matching transaction in response to the authorization request; and authorizes payment of the patient responsible balance to be automatically debited against the respective FSA at the time of purchase.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.