A new cost-saving program by CVS Caremark could help members keep a little more in their pockets in the face of costly prescriptions. CVS Caremark has partnered with GoodRx to create the Cost Saver program, an effort designed to lower the cost of prescriptions – especially the ones that are renewed on a regular basis.
“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 prescriptions – now they can do both right at the counter so they have confidence they are always paying the lowest available price.”
Getting prescriptions for less
GoodRx is known for providing consumers with prescription drugs at a lower cost. Now, with the Cost Saver program, CVS Caremark members can take advantage of their Caremark perks, as well as lower prices with GoodRx.
Caremark members won’t have to see or do anything differently with the Cost Saver program. All of the drug price comparisons happen behind the scenes.
Once your prescription is sent to the pharmacy, the pharmacist will submit a claim using the member’s Caremark ID. Then, that behind-the-scenes price negotiation happens. Consumers will only see the price they owe, which is likely to be lower than normal with the help of GoodRx.
From there, whatever consumers pay out-of-pocket will be applied to their deductibles. Caremark members will just have to show their ID cards at their pharmacy when they pick up their prescriptions – no other steps are required or necessary.
“In the vast majority of cases, members receive the lowest price on non-specialty generic medications through their Caremark prescription drug benefit,” the Cost Saver website explains. “However, the price for any given drug may fluctuate frequently, even from one day to the next. Our integration of GoodRx helps to smooth the dynamic nature of the market and ensure that members receive the most competitive price for their prescription drugs."
CVS Caremark members can expect the rollout of the Cost Saver program on January 1, 2024.
“By lowering out-of-pocket costs for our clients’ members, Caremark Cost Saver will help patients afford to take their medicine as directed,” said Caremark President David Joyner.