BENTONVILLE, Ark. — Wal­mart is teaming up with Humana Pharmacy Solutions Inc. to offer employers a pharmacy benefits plan guaranteeing up to 20% off prescription costs.

The new Walmart Rx Network offers self-insured employers an average of 10% savings on their annual average prescription price.

At the same time Humana’s new Rx4Value formulary provides comprehensive therapeutic coverage while saving self-insured employers an average of 15% on members’ prescription price. Both options are available individually and can be combined for compounded savings.

Self-insured employers who select both the network and formulary options can save up to 20% of the average annual prescription price, so that a self-insured employer with 1,000 employees could save as much as $400,000 per year.

“We’re committed to providing low-cost prescriptions and ensuring people have affordable access to the medications they need to help them live healthier lives,” said John Agwunobi, president of Walmart U.S. health and wellness. “We are proud to team with Humana on this innovative benefit.”

Both new pharmacy benefits options are available now to self-insured employers. The Wal­mart Rx Network option is expected to be available to fully-insured employers later this year.

The network includes the more than 4,400 pharmacies under the Walmart, Neighborhood Market, Sam’s Club, Walmart Express and Walmart on Campus banners, as well as Humana’s RightSource mail-order pharmacy.