WOONSOCKET, R.I. CVS/pharmacy on Wednesday announced a new shopper program for customers enrolled in Health Savings Accounts and Flexible Spending Accounts—new, easy-to-read register receipts that highlight prescription medicines, over-the-counter remedies and other qualifying purchases so they can be easily identified and tracked with a special symbol indicating which items are HSA/FSA-eligible. “The use of health savings accounts and flexible savings programs has grown dramatically over the past two years,” stated Rob Price, senior vice president of marketing for CVS/pharmacy. “But many consumers don’t realize that managing their funds throughout the year can be simple and, more importantly, can result in significant cost-savings, particularly for those with chronic conditions.”
To make redemption of HSA/FSA funds as easy as possible, CVS/pharmacy register receipts also present separate sub-totals for items that are HSA/FSA-eligible.
An increasing number of consumers participating in FSAs rely on FSA debit cards loaded with predetermined limits. Consumers who present these “flex cards” to complete a transaction at CVS/pharmacy will experience the immediate benefit of the FSA sub-total being deducted directly from the shopper’s flex card, the company stated, while the remaining total for non-FSA items will be organized for the shopper to purchase with an alternative method of payment.
Already, CVS had previously tied its HSA/FSA offerings to its ExtraCare card program—ExtraCare members can call a toll-free number to receive a list of HSA/FSA-eligible purchases made with their ExtraCare card going back 14 months.