Connectyourcare, LLC

Vrajesh Bhavsar

Jennifer Frankenfield

David M Roberts

Brian Strom

Dan Stachura

Bryan Schrock

Peter Mazur

Melissa Stirling

Jennifer Levy

Reese Feuerman

Disclosed herein are system, method, and computer program product embodiments describing the creation and funding of tax-advantaged accounts at a point-of-sale. By immediately funding the tax-advantaged account at the point-of-sale using a funding and payment mechanism, the disclosed embodiments may effectively and instantly fund a tax-advantaged account at a point-of-sale. The funding and payment mechanism overcomes the lapse in availability of funds inherent in legacy systems. Thus, an account holder may then immediately pay a provider from the tax-advantaged account for qualified expenses. The disclosure also presents a credit feature allowing prospective account holders to initially fund the tax-advantaged account. At the point-of-sale, the prospective account holder may link their newly created tax-advantaged account to other accounts, allowing the system to detect potential over-contributions. The disclosure also presents a retroactive analysis feature that analyzes linked accounts to create tax-advantaged transactions in transactions completed earlier in a plan year.

Retail HSA funding and payment mechanism

Disclosed herein are system, method, and computer program product embodiments describing the creation and funding of tax-advantaged accounts at a point of sale/service of a qualifying expense. The disclosure presents verifying the identity of the recipient of the qualifying expense, confirming an initial contribution, and creating a tax-advantaged account on behalf of the individual. The disclosure further presents funding the tax-advantaged account with the initial contribution and subsequently generating a bank transaction wherein the tax-advantaged account transfers the cost of the qualifying expense to the provider.

Method and system for creation and funding of tax-advantaged account at point of sale/service

Disclosed herein are system, method, and computer program product embodiments for reconciliation needed to enable access to accelerated contribution funded accounts (CFAs). An embodiment operates by configuring a management database to store a linked CFA associated with a CFA and an asset-transfer on demand account (ATODA). A transfer processing system of a provider may receive a transfer file from an employer. The transfer processing system may delay transfer reconciliation of the linked CFA until a transferred amount is received. During transfer reconciliation, the transfer processing system may resolve the ATODA using the received transferred amount. Upon resolution of the ATODA, the contribution processing system may concurrently send information to a bank server and a card server to reconcile the respective bank and card accounts with the linked CFA at the provider.

Reconciliation for enabling access to transferring contribution funded accounts

Disclosed herein are system, method, and computer program product embodiments describing the creation and funding of tax-advantaged accounts at a point of sale. By immediately funding the tax-advantaged account at the point of sale using a funding and payment mechanism, the disclosed embodiments may effectively and instantly fund a tax-advantaged account at a point of sale. The funding and payment mechanism overcomes the lapse in availability of funds inherent in legacy systems. Thus, an account holder may then immediately pay a provider from the tax-advantaged account for qualified expenses. The disclosure also presents a credit feature allow prospective account holders to initially fund the tax-advantaged account. At the point of sale, the prospective account holder may link their newly created tax-advantaged account to other accounts, allowing the system to detect potential over-contributions. The disclosure also presents a retroactive analysis feature that analyzes linked accounts to create tax-advantaged transactions in transactions completed earlier in a plan year.

Growing community of inventors

Franklin, TN, United States of America

Vrajesh Bhavsar