| As of January 1, 2008, the IRS is requiring supermarkets, discount stores, grocery stores, wholesale clubs and mail-order merchants who provide healthcare supplies and medications to implement an Inventory Information Approval System (IIAS). IIAS is a point-of-sale system in which retailers identify at the point of sale eligible healthcare items and authorizes them against FSA or HRA accounts.
For more information on the IRS Internal Revenue Ruling 2006-31: http://www.irs.gov/irb/2006-31_IRB/ar10.html.
- The IIAS system allows for substantiation at the time of purchase (so participants will not need to submit receipts)
- Participants can only shop at merchants that have the IIAS system (list of merchants attached)
- IIAS only allows acceptable healthcare items
The effect that this will have for most participants is simply that they will not have to submit receipts.
Employers
What is IIAS?
Participating Merchants for 2008
Plan Members
What is IIAS?
Participating Merchants for 2008
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