According to a press release, participants can present the card at the point of service to pay for a prescription or an office visit. An authorization request is submitted electronically through the normal card authorization channels and is either approved or denied based on card-specific criteria.
The card is tied directly to all accounts, and has a “stacking” capability to prioritize real-time payment from multiple accounts.
“EB’s technology helps streamline our consumer-directed program business and meet the increasing demand for a prepaid benefits card that can stack accounts and achieve high rates of auto-substantiation,” said Ken Simons, executive vice president and chief operating officer of SunGard’s Relius business unit, in the press release.
Relius is an integrated retirement plan recordkeeping solution used by third-party administrators, banks, insurance companies, CPAs, and corporations. It supports a variety of plan types, and has capabilities for creating illustrations for plan proposals, plan document generation, recordkeeping, and government forms reporting.
More information is at www.sungard.com/relius .