Portfolio News| July 2023
CVS Caremark and GoodRx to Launch Caremark® Cost Saver™ to Help Lower Out-of-Pocket Drug Costs for CVS Caremark Clients’ Members
Woonsocket, RI and Santa Monica, CA - CVS Caremark®, a CVS Health® (NYSE: CVS) company, and GoodRx (Nasdaq: GDRX), a leading resource for healthcare savings and information, today announced the launch of Caremark® Cost SaverTM to help lower pharmacy out-of-pocket drug costs for CVS Caremark clients’ members. Through the new program, CVS Caremark’s eligible members will have automatic access to GoodRx’s prescription pricing to allow them to pay lower prices, when available, on generic medications in a seamless experience at the pharmacy counter.
The amount paid will automatically be applied to plan members’ deductible and out-of-pocket thresholds. Plan members only need to utilize their existing benefit card at their preferred in-network pharmacy. No action is required by the plan member.
“We work every day to provide a more affordable drug benefit for our CVS Caremark clients and their plan members, and this collaborative prescription discount solution enables us to dynamically shop for the best price on their behalf,” said David Joyner, Executive Vice President, CVS Health and President, CVS Caremark. “By lowering out-of-pocket costs for our clients’ members, Caremark Cost Saver will help patients afford to take their medicine as directed.”
“Healthcare only works when patients can afford it, which is why we are excited to work with CVS Caremark to combine their great value with automatic access to our low prices on prescriptions,” said Scott Wagner, Interim CEO of GoodRx. “Through this program, patients don’t have to choose between using their pharmacy benefit or using GoodRx to save on their prescriptions - now they can do both right at the counter so they have confidence they are always paying the lowest available price. This collaboration can make a meaningful difference for the tens of millions of Americans that CVS Caremark serves.”
Members will continue to benefit from CVS Caremark’s rigorous drug safety review, which includes thousands of health and safety checks that can alert the patient about any negative drug interactions.
This program will bring GoodRx discount pricing to commercially insured plan members filling many commonly prescribed generic prescriptions at in-network pharmacies, starting January 1, 2024.
Learn more about Caremark Cost Saver here.
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