LAS VEGAS — For the more than 30 million people in the United States who utilize HSAs (health savings accounts), a new service has launched called HSARx, offering traditional pharmacy benefit management savings directly to health savings account subscribers.
As prescription drug costs continue to grow at rates exceeding inflation, consumers are looking to take control of their prescription drug spend. HSARx offers a seamless and easy way for consumers to pay for and charge prescription drugs to their health savings account — all while saving 40 to 80% on their prescription drug medications. The technology will make prescription drug savings and payments easier and more secure than ever before, allowing consumers to use pre-tax HSA dollars or a personal debit card to pay for their medicine.
By integrating directly into consumers’ health savings accounts (HSAs), HSARx offers the consumer all the benefits and cost savings that have been available traditionally to large health insurance companies. Through a proprietary billing and reimbursement processes, it gives the consumer cost control, while its world-class reporting structure provides more power over prescription drug spending.
“Particularly amid rising inflation and increasing costs touching all facets of healthcare, the need for HSARx could not be clearer,” said Dennis Sponer, CEO of HSARx. “In launching this endeavor, we will live up to our mantra of ‘just take a picture of your HSA card and we do the rest,’ making the experience as seamless, secure and gratifying as possible.”
Sponer is the brainchild of HSARx and a healthcare industry mainstay. In 1997, he founded ScripNet, a pharmacy benefit management company and, in 2012, it was successfully acquired by Optum Healthcare Solutions. Ten years after the ScripNet acquisition, Sponer is back in the spotlight with the launch of HSARx.
Further driving the need for HSARx, more than $75 billion in health care dollars fall under the management of HSAs. Growth in this sector is increasing at a rate of 19% per year. Approximately 13% of Americans lost their prescription drug coverage from their health insurer in 2020 and 28% of Americans take at least one prescription that is not covered by their health insurance.
For more information on HSARx, visit www.HSARx.com.