I Have a Freedom Data POS System
Freedom Data Systems has enhanced your PRO POS software so that you have the tools necessary to certify your store to accept flexible spending cards. If you wish to accept flexible spending cards then you MUST follow the steps outlined below.
- Have your PRO/POS software updated.
- Join the Special Interest Group for IIAS Standards (SIGIS) as a tier IV member. The cost to join as a tier IV member is $250.00 per year. This membership provides you with access to the Qualified Product List (QPL)—which contains the description and UPC code of FSA-eligible products—necessary for the certification and acceptance of FSA/HRA cards.
- Go to the SIGIS home page.
- Select Join and then Membership Signup Form.
- Download and complete the membership application and send it in ASAP. (Submit your application early to avoid the year-end rush of applications.)
- After you join, send proof of your membership to firstname.lastname@example.org. Your account will be modified so that you can download the Qualified Product list.
- If you own multiple locations you only need to join once to cover all the stores under your corporate ownership.
- If you are a pharmacy that has elected to use the 90% exception rule then you may still want to join SIGIS so that you have access to the Qualified Product list. You may find that this list is necessary to assist your customers in substantiating their claims.
After your POS software is updated, you must become IIAS-certified by your MSP/Processor. Your MSP or Processor is the company you pay each month for credit card transaction fees.
Download and complete the Merchant Certification Self-Assessment form.
Send the completed form to your MSP or Processor for certification.
Note: Freedom Data Systems has no control over this process. Please contact your MSP/Processor for more information on their certification process.
Your MSP/Processor will review your self-assessment and once approved, will send it to SIGIS. After SIGIS receives the form, they will add your pharmacy to the list of IIAS-compliant merchants posted at the SIGIS Web site. They will also send you something you can display in your store front to indicate you are IIAS-compliant.
Note: The IRS has listed one exemption to the IIAS ruling thus far, referred to in the pharmacy industry as “the 90% rule.” For information on the 90% rule, contact your credit card processor for their requirements to satisfy a 90% ruling for your store. Be sure that you understand that transactions processed at stores utilizing the 90% rule will not be automatically substantiated.