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Article: mbi Applauds IRS Revenue Ruling 2003-43 on Use of Health Care Debit Cards; Ruling Solidifies Debit Card Leader mbi's Advantages for TPAs, Employers and Employees.
- Article from:
- PR Newswire
- Article date:
- May 9, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WALTHAM, Mass. -- WALTHAM, Mass., May 9 /PRNewswire/ -- The recent IRS ruling confirms approval of using debit cards for flexible spending accounts (FSAs) and Health Reimbursement Arrangements (HRAs).
"This is terrific news for third-party administrators (TPAs), employers and employees, the ultimate users of the cards. The ruling clarifies some muddy areas, particularly for third-party administrators (TPAs) working on behalf of employers," says Rob Butler, VP of sales and marketing for mbi, pioneer of the health care debit-like card. "We have been working with the IRS and the Employer Council on Flexible Compensation to resolve such issues as co-pay matching, ...