FSA Accounts

Background on FSA Accounts and FSA Debit Cards:

As you probably know a Flexible Spending Account (FSA) is an employee healthcare benefit that many employees use for prescription copayments and OTC medications. Health Savings Accounts (HSAs) accounts are similar (to see more on both types of accounts click the “FSA Accounts” tab of the main menu at the top of this page). Most often you see them through customers’ use of FSA debit cards. FSAs can be very inconvenient, so FSA debit cards were introduced to make FSAs easier for consumers to manage.

Most large retail pharmacies have implemented updates to their POS and bankcard payment systems, complying with IRS requirements so that they can accept FSA debit cards for those customers that use them. For pharmacies without POS systems, new IRS mandates have caused concern as to how they will still be able to service their loyal consumers that want automated access to their FSA accounts.