Retail News Breaks Archives
CVS/pharmacy plans to launch bill pay service
April 21st, 2014
WOONSOCKET, R.I. – CVS Caremark Corp. has introduced Bill Pay at CVS/pharmacy, a bill payment service at its drug stores that helps customers manage their monthly health insurance premiums.
CVS said Monday that members of participating health plans can bring their insurance bills to any of CVS/pharmacy's 7,600 stores nationwide to pay their premiums, at no additional cost.
To facilitate bill payments at all cash registers in the pharmacy or at front checkout, CVS has partnered with payment technology provider InComm. Members of health plans that participate in Bill Pay at CVS/pharmacy will get their monthly premium bills with a customer-specific bar code and instructions on how it can be used to pay their premium. CVS scans the bar code to collect the member's payment, which can be made using cash, credit card or debit card.
CVS/pharmacy noted that it's the first national retail pharmacy to offer this service, which is slated to launch later this spring.
"Millions of Americans have enrolled in health insurance this year for the first time, and we want to help with this transition by providing an easy way to pay their premiums in our stores," Josh Flum, senior vice president of retail pharmacy at CVS Caremark, said in a statement. "Providing customers with this level of unprecedented access to manage their insurance premiums is part of our commitment to delivering innovative solutions to help people on their path to better health."
CVS added that it also accepts insurance bill payments from members of health plans that are enrolled in MoneyGram's bill payment service. Most CVS/pharmacy stores are equipped with MoneyGram phones or kiosks to handle a cash-only bill payment at a store's front checkout.