System and Method for Processing Qualified Healthcare Account Related Financial Transactions

Abstract

This invention relates to a system and method for processing qualified healthcare account transactions (e.g., HFA, Health FSA, and HRA) and non-qualified credit card transactions within a transaction processing system. In particular, this invention relates to a multi-purse payment device associated with a transaction processing system for auto-substantiating qualified healthcare transactions.

1 . A computer implemented method for processing consumer healthcare account related reimbursement eligible transactions, the computer implemented method comprising the steps of:
 issuing a user payment device associated with a credit account and a consumer healthcare account, the payment device effecting payment from a first payment source for purchases eligible for reimbursement by the consumer healthcare account pursuant to one or more transaction rules governing the eligibility for reimbursement of purchases made by consumer healthcare accounts, and effecting payment from a second payment source for purchases not eligible for reimbursement by the consumer healthcare account, wherein said transaction rules determine the reimbursement eligibility of the purchases;   identifying a user transaction made with the payment device at a merchant for one or more purchases;   receiving merchant data regarding the user transaction including an authorization request;   transmitting a response to the authorization request;   identifying, using a computer processor, reimbursable expenses in the transaction based at least in part of the merchant data; and   debiting the user from the second payment source if the transaction is unauthorized and/or reimbursing the user for reimbursable expenses if the transaction is authorized.   
     
     
         2 . The method of  claim 1 , wherein the merchant data regarding the user transaction including an authorization request is received from a transaction, payment, or association network. 
     
     
         3 . The method of  claim 1 , wherein the merchant data regarding the user transaction includes line-item product data. 
     
     
         4 . The method of  claim 1 , wherein the merchant data regarding the user transaction identifies reimbursable expenses. 
     
     
         5 . The method of  claim 1 , wherein the merchant data regarding the user transaction is derived at least in part from an inventory information approval system. 
     
     
         6 . The method of  claim 1 , wherein the merchant data regarding the user transaction includes the full dollar amount of the transaction. 
     
     
         7 . The method of  claim 1 , wherein the user transaction is identified at least in part by evaluating a payment device BIN or IIN. 
     
     
         8 . (canceled) 
     
     
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         10 . The method of  claim 1  further comprising: generating a credit account statement identifying reimbursed expenses. 
     
     
         11 . The method of  claim 1 , wherein the credit account is associated with a rewards program. 
     
     
         12 . A computer implemented method for processing consumer healthcare account related reimbursement eligible transactions, the computer implemented method comprising the steps of:
 identifying a user transaction initiated at a merchant for one or more purchases made with a payment device associated with a credit account and a consumer healthcare account, the payment device effecting payment from a first payment source for purchases eligible for reimbursement by the consumer healthcare account pursuant to one or more transaction rules governing the eligibility for reimbursement of purchases made by consumer healthcare accounts, and effecting payment from a second payment source for purchases not eligible for reimbursement by the consumer healthcare account, wherein said transaction rules determine the reimbursement eligibility of the purchases;   receiving merchant data regarding the user transaction including an authorization request;   transmitting an authorization request to a consumer healthcare account administrator, wherein the authorization request includes at least some merchant data identifying reimbursable and non-reimbursable expenses in the transaction;   receiving a response to the authorization request from the consumer healthcare account administrator; and   transmitting an authorization request to a credit account issuer including at least some merchant data designating reimbursable and non-reimbursable expenses in the transaction.   
     
     
         13 . The method of  claim 12 , wherein the merchant data regarding the user transaction is received from a transaction, payment, or association network. 
     
     
         14 . The method of  claim 12 , wherein the merchant data regarding the user transaction includes line-item product data. 
     
     
         15 . The method of  claim 12 , wherein the merchant data regarding the user transaction identifies reimbursable expenses. 
     
     
         16 . The method of  claim 12 , wherein the merchant data regarding the user transaction is derived at least in part from an inventory information approval system. 
     
     
         17 . The method of  claim 12 , wherein the merchant data regarding the user transaction includes the full dollar amount of the transaction. 
     
     
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         24 . A system for processing consumer healthcare account related reimbursement eligible transactions, the system comprising:
 a processor for processing a credit transaction for a user's purchase made with a payment device associated with a credit account and a consumer healthcare account, wherein the payment device is operable to effect payment from a first payment source for purchases eligible for reimbursement by the consumer healthcare account pursuant to one or more transaction rules governing the eligibility for reimbursement of purchases made by consumer healthcare accounts, and further operable to effect payment from a second payment source for purchases not eligible for reimbursement by the consumer healthcare account, wherein said transaction rules determine the reimbursement eligibility of the purchases;   an eligibility module for identifying consumer healthcare account reimbursement eligible expenses in the user's purchase based on merchant data;   an authorization request router for routing authorization requests;   a credit authorization decision engine for decisioning on authorization requests and generating authorization responses;   an authorization response router for routing authorization responses;   a receipt generation component for generating receipts; and   an imaging component for imaging receipts.   
     
     
         25 . The system of  claim 24 , wherein the eligibility module is operable to access an inventory information approval system. 
     
     
         26 . The system of  claim 25 , wherein the eligibility module is operable to access product and/or service data, including: line-item data, price data, product purpose data, product code data, service code data, date of purchase data, time of purchase data, and merchant identification data. 
     
     
         27 . The system of  claim 24 , wherein the authorization request router is a transaction, payment, or association network. 
     
     
         28 . The system of  claim 24 , further comprising an identification module for matching a BIN associated with the payment device to a corresponding BIN in a BIN file. 
     
     
         29 . The system of  claim 24 , wherein the authorization response router is a transaction, payment, or association network. 
     
     
         30 . The system of  claim 24 , wherein the reimbursement engine is operable to generate a reimbursement request. 
     
     
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