What is IIAS and Why is it Important?
Inventory Information Approval System (IIAS) is a process used by the merchant through their Poin-of-Sale(POS) system to identify and separate eligible healthcare products when the consumers is paying with a FSA card. IRS regulations require a fully functioning IIAS POS solution for any merchant who chooses to accept FSA cards.
Pharmacies without an IIAS capable POS system will not be able to accept FSA cards unless by approved under the 90% rule.
You may also be interested in reading: What is the 90% Rule?
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Last modified 3/18/13