The Inventory Information Approval System, or IIAS, is a point-of-sale technology used by retailers that accept FSA debit cards, which are issued for use with medical flexible spending accounts (FSAs), health reimbursement accounts (HRAs), and some health savings accounts (HSAs) in the United States.
By the end of 2007, all grocery stores, discount stores, and online pharmacies that accept FSA debit cards must have an IIAS; by the end of 2008, most chain pharmacies must have an IIAS as well.
The predecessor to the current IIAS was developed by the online retailer drugstore.com for its "FSA store" in 2005; it was first introduced to brick-and-mortar retailing by Walgreens in 2006. Wal-Mart became the first discounter with an IIAS in late 2006.
Read more about Inventory Information Approval System: How IIAS Works, IRS Requirements To Use IIAS, Importance of IIAS
Famous quotes containing the words information, approval and/or system:
“Knowledge is of two kinds. We know a subject ourselves, or we know where we can find information upon it.”
—Samuel Johnson (1709–1784)
“The approval of the public is to be avoided like the plague. It is absolutely essential to keep the public from entering if one wishes to avoid confusion. I must add that the public must be kept panting in expectation at the gate by a system of challenges and provocations.”
—André Breton (1896–1966)
“Intimately concerned as we are with the system of Europe, it does not follow that we are therefore called upon to mix ourselves on every occasion, with a restless and meddling activity, in the concerns of the nations which surround us.”
—George Canning (1770–1827)