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Regulation and Compliance > Federal Regulation

Aetna Introduces Card-Based FSA Administration

By Staff Writer

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NU Online News Service, Oct. 8, 2003, 2:43 p.m. EST – Aetna Inc., Hartford, has introduced an automated debit card system for drawing on funds in flexible spending accounts.

Starting in 2004, Aetna health plan members will be able to use the new Aetna AutoDebit system to file FSA claims as they are paying for prescription drugs at pharmacy checkout counters, Aetna says.

Plan members can reach the Aetna debit system using their regular Aetna member identity cards.

The debit system will verify that the claims comply with Internal Revenue Service regulations and provide the details necessary to substantiate that the claims are eligible for reimbursement, Aetna says.