System and method for processing flexible spending account transactions
AssigneeEvolution Benefits, Inc.
InventorsRobert E. Patricelli, Christopher M. Byrd, Paul L. Chabot
Life of this patent
Estimating the term…
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.
Claims21
A computer implemented method, comprising the steps of:
- receiving, by a processor, transaction data including at least one item associated with a transaction involving a payment from a customer to a goods or service provider;
- receiving, by a processor, an authorization request to authorize payment of the transaction against an account requiring substantiation for qualified expenses associated with the customer;
- and
- performing, by a processor at the time of the transaction, a substantiation process for the transaction prior to the payment to the goods or service provider, the substantiation process comprising:
- querying a database to obtain transaction information associated with the customer;
- matching the transaction information from the database with the received transaction data and an associated amount of the payment from the customer to the goods or services provider;
- and
- determining an authorization decision for payment of the transaction from the account to the goods or service provider;
- communicating the authorization decision for payment of the transaction;
- if the authorization decision includes authorizing payment of the transaction, causing payment to be sent from the account to the goods or service provider for the transaction;
- and
- if the authorization decision includes not authorizing payment of the transaction, causing payment to be denied to the goods or service provider for the transaction.
A system comprising:
- at least one memory configured for storing a database;
- and
- at least one processor in communication with the at least one memory, wherein the at least one processor is configured for:
- receiving transaction data including at least one item associated with a transaction involving a payment from a customer to a goods or service provider;
- receiving an authorization request to authorize payment of the transaction against an account requiring substantiation for qualified expenses associated with the customer;
- and
- performing at the time of the transaction a substantiation process for the transaction prior to the payment to the goods or service provider, the substantiation process comprising:
- querying the database to obtain transaction information associated with the customer;
- matching the transaction information from the database with the received transaction data and an associated amount of the payment from the customer to the goods or services provider;
- and
- determining an authorization decision for payment of the transaction;
- communicating the authorization decision for payment of the transaction;
- if the authorization decision includes authorizing payment of the transaction, causing payment to be sent to the goods or service provider for the transaction;
- and
- if the authorization decision includes not authorizing payment of the transaction, causing payment to be denied to the goods or service provider for the transaction.
Dependencies are inferred from the claim text.