Integrated nested account financial system with medical savings subaccount
First Claim
1. A data processing system for managing a plurality of accounts, wherein each account includes a master account, is held by a first individual, is directed to a particular profile of financial attributes and capabilities, and a medical services account associated with at least one account and the corresponding master account, comprising:
- master account processing means for creating and controlling a master account;
master account input means for receiving account transactions from said individual corresponding to account activity inquiries and account asset transfers into and out from said master account;
subaccount processing means for creating and controlling one or more subaccounts associated with said master account, wherein said subaccount processor permits a particular profile of subaccount transactions to be associated with each said subaccount, said profile representing a subset of transaction functions or identifications associated with said master account;
paperwork control means for generating necessary paperwork associated with each master account and each of said one or more subaccounts, for sending such paperwork to said individual, and for determining that such paperwork has been received from and completed by said individual; and
account reporting means for creating and displaying or outputting reports of transactions undertaken for said master account and at least one of said one or more subaccounts on a regular periodic basis;
wherein at least one of said subaccounts is a Medical Savings Account (MSA) for payment of medical expenses, and optionally long-term savings management, of a subscriber to a medical plan, said system further comprising;
a subscriber account entry means for selectively receiving subscriber parameters and creating an associated MSA database entry, wherein each MSA in said database includes information regarding said subscriber, parameters defining allowable.
1 Assignment
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Accused Products
Abstract
A computer system for managing a plurality of accounts, each of the accounts being separated into a master account and at least one subaccount associated therewith, and at least one subaccount being a medical savings account (MSA). Each subaccount incorporates a subset of features available for the master account, the features corresponding to the specific needs dictated by the purpose of the subaccount. The purpose of a subaccount, in addition to being an MSA, can include regular payments (e.g., mortgage and other loans), credit/debit card, retirement account, and the like.
496 Citations
18 Claims
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1. A data processing system for managing a plurality of accounts, wherein each account includes a master account, is held by a first individual, is directed to a particular profile of financial attributes and capabilities, and a medical services account associated with at least one account and the corresponding master account, comprising:
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master account processing means for creating and controlling a master account; master account input means for receiving account transactions from said individual corresponding to account activity inquiries and account asset transfers into and out from said master account; subaccount processing means for creating and controlling one or more subaccounts associated with said master account, wherein said subaccount processor permits a particular profile of subaccount transactions to be associated with each said subaccount, said profile representing a subset of transaction functions or identifications associated with said master account; paperwork control means for generating necessary paperwork associated with each master account and each of said one or more subaccounts, for sending such paperwork to said individual, and for determining that such paperwork has been received from and completed by said individual; and account reporting means for creating and displaying or outputting reports of transactions undertaken for said master account and at least one of said one or more subaccounts on a regular periodic basis; wherein at least one of said subaccounts is a Medical Savings Account (MSA) for payment of medical expenses, and optionally long-term savings management, of a subscriber to a medical plan, said system further comprising; a subscriber account entry means for selectively receiving subscriber parameters and creating an associated MSA database entry, wherein each MSA in said database includes information regarding said subscriber, parameters defining allowable. - View Dependent Claims (2, 3, 4, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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- 5. The system of claim wherein said subaccount processing means provides an identification that a particular subaccount is associated with a second individual and with a master account held by said first individual.
Specification