BENEFITS CARD AT THE PHARMACY
October 23, 2008
October 23, 2008
On January 1, 2009 the IRS will require all non-medical merchants to have a valid Inventory Information Approval System (IIAS) in place at any given location in order for an FSA/HRA Benefits Card to be used.This includes all drug stores and pharmacies (an addition to the 2008 requirement).
Since its rollout at the start of 2008, the IIAS solution has been highly successful, and has resulted in a dramatic increase in auto-substantiated POS transactions….meaning fewer receipts participants are required to submit!
All drug stores and pharmacies must have IIAS in place on 1/1/2009; otherwise, the Benefits Card will not work at those locations.
