flexTRAX Delivers FSA Card Solution To Help Pharmacies Meet Regulations
September 2010 – With new restrictions on pharmacies and patients due to the recent health care reform, independent pharmacists are feeling the effects of today’s ever-changing market. On January 1, 2011, 35 % of items from the current FSA Eligible Product List will require alternate payment methods at the pharmacy unless prescribed by a doctor. With these new modifications, your pharmacy’s 90% exemption status and ability to accept FSA cards may be affected.
The popularity of Flexible Spending Accounts (FSAs), commonly referred to as “Section 125” plans or “Cafeteria” plans, has grown as employees use these programs to gain tax relief for their un-reimbursed medical and dependent day-care costs. FSAs enable employees to utilize pre-tax dollars and save Federal, FICA, and, in most cases, state taxes when paying for eligible expenses not covered by traditional insurance plans.
To meet the demand of independent pharmacies that need an IIAS compliant point of sale, Wichita, Kansas-based KeyCentrix Inc. offers flexTRAX Solutions, a point of sale software solution that provides an easy transition from the 90% Rule Program to IIAS certification while supporting FSA cards, increasing productivity and enhancing customer service.
The flexTRAX point of sale bundle includes the 15” S-Line, an all-in-one touch system with built-in 3” thermal receipt printer from Pioneer POS. Pharmacies typically invest in one to two S-Line all-in-one touch systems with flexTRAX software per location. In addition, the POS bundle is easy to use and simple to install with the installation of and training handled remotely and taking an average of less than one hour per location.
By using the flexTRAX POS, pharmacies can maximize their profitability and offer complete service to their customers by ensuring they can accept all payment methods, including FSA cards. Other benefits to implementing the POS bundle include the ability to streamline the customer checkout process, electronic signature storage, and the compact footprint of the Pioneer POS touch system. The flexTRAX Solution also offers additional time-saving features in addition to basic POS system functionality such as detailed business reporting tools, automatic updates, price catalog imports, and clerk codes.
To contact Pioneer POS call 888.468.9757.
About Pioneer POS
Pioneer POS Inc., founded in 1994, is headquartered in California, with offices in Asia, and distributors worldwide. We focus on designing and supplying integrated/embedded touch screen solutions for various industries such as hospitality, retail, gaming, manufacturing, government, healthcare, and kiosk. Recognized as a 2009 Best Channel Vendor and 2009 Best Channel Product by Business Solutions Magazine, the Pioneer POS product line includes touch monitors, all-in-one touch systems, and kiosks that are available in 12″, 15″, and 17″ display sizes. Our products are designed to have a longer shelf-life (a minimum of 3 years) and service-ability (a minimum of 5 years).
FlexTRAX Solutions is located in Wichita, KS and is a subsidiary of KeyCentrix, Inc., a provider of software solutions to the pharmacy industry. FlexTRAX Solutions was established in 2008 to provide an affordable IIAS system for pharmacies to meet the requirements of an IRS regulation related to flexible spending account (FSA) purchases. Since then, FlexTRAX Solutions has evolved into a leading point of sale provider by offering an easy to use and affordable system. In addition, flexTRAX provides customers with 24/7 access to the industry’s most experienced hardware and software specialists. To learn more visit, www.flextraxsolutions.com/