Payment programs for healthcare plans
View Patent ↗The invention is a computer-implemented method and system to facilitate a purchase utilizing a tax-advantaged account. A request for payment for an item is received from a requester. A determination is made whether the item qualifies for pre-tax treatment. If the item qualifies for pre-tax treatment at least a partial payment amount for the item is determined. The tax-advantaged account is debited for at least a portion of the purchasing amount of the item based on the payment authorization; and the at least partial payment amount for the item is transmitted to an account of the requestor.
1. A method comprising:
linking, using a computing device, an existing transaction instrument, associated with a non tax-advantaged account, to a tax-advantaged account;
receiving, using the computing device, a request, initiated by a use of the transaction instrument, for payment of a purchase;
determining, using the computing device, whether the purchase qualifies for pre-tax treatment; and
in response to a determination that the purchase qualifies for pre-tax treatment:
determining, using the computing device, at least a partial payment amount to be paid from the tax-advantaged account,
initiating, using the computing device, a debit of the tax-advantaged account, and
transmitting, using the computing device, the at least the partial payment.
2. The method of claim 1 , wherein the at least the partial payment amount is transmitted concurrently with the debit of the tax-advantaged account.
3. The method of claim 1 , wherein the at least the partial payment amount is transmitted to a service provider.
4. The method of claim 1 , wherein the at least the partial payment amount is transmitted to a retail merchant.
5. The method of claim 1 , wherein the at least the partial payment amount is transmitted to a third party intermediary.
6. The method of claim 1 , wherein the tax-advantaged account is a Flexible Spending Account (FSA).
7. The method of claim 1 , wherein the tax-advantaged account is a Health Savings Account (HSA).
8. The method of claim 1 , wherein the transaction instrument is at least one of:
a debit card; or
a credit card.
9. An article of manufacture including a tangible computer readable medium having instructions stored thereon, execution of which by a computing device causes the computing device to perform operations comprising:
linking an existing transaction instrument, associated with a non tax-advantaged account, to a tax-advantaged account;
receiving, a request, initiated by a use of the transaction instrument, for payment of a purchase;
determining whether the purchase qualifies for pre-tax treatment; and
in response to a determination that the purchase qualifies for pre-tax treatment:
determining at least a partial payment amount to be paid from the tax-advantaged account,
initiating a debit of the tax-advantaged account, and
transmitting the at least the partial payment amount.
10. The article of manufacture of claim 9 , wherein the tax-advantaged account is a Flexible Spending Account (FSA).
11. The article of manufacture of claim 9 , wherein the tax-advantaged account is a Health Savings Account (HSA).
12. The article of manufacture of claim 9 , wherein the transaction instrument is at least one of:
a debit card; or
a credit card.
13. A system comprising:
a processor; and
a memory storing instructions, execution of which by a computing device causes the computing device to perform operations comprising:
linking an existing transaction instrument, associated with a non tax-advantaged account, to a tax-advantaged account;
receiving, a request, initiated by a use of the transaction instrument, for payment of a purchase;
determining whether the purchase qualifies for pre-tax treatment; and
in response to a determination that the purchase qualifies for pre-tax treatment:
determining at least a partial payment amount to be paid from the tax-advantaged account,
initiating a debit of the tax-advantaged account, and
transmitting the at least the partial payment amount.
14. The system according to claim 13 , wherein the tax-advantaged account is a Flexible Spending Account (FSA).
15. The system of claim 13 , wherein the tax-advantaged account is a Health Savings Account (HSA).
16. The system of claim 13 , wherein the transaction instrument is at least one of:
a debit card; or
a credit card.
17. A system comprising:
means for linking an existing transaction instrument, associated with a non tax-advantaged account, to a tax-advantaged account;
means for receiving a request, initiated by a use of the transaction instrument, for payment of a purchase;
means for determining whether the purchase qualifies for pre-tax treatment;
means for determining, in response to a determination that the purchase qualifies for pre-tax treatment, at least a partial payment amount to be paid from the tax-advantaged account;
means for initiating, in response to the determination that the purchase qualifies for pre-tax treatment, a debit of the tax-advantaged account; and
means for transmitting, in response to the determination that the purchase qualifies for pre-tax treatment, the at least the partial payment amount.
18. The system of claim 17 , wherein the tax-advantaged account is a Flexible Spending Account (FSA).
19. The system of claim 17 , wherein the tax-advantaged account is a Health Savings Account (HSA).
20. The system of claim 17 , wherein the transaction instrument is at least one of:
a debit card; or
a credit card.