Walmart launching drug discount offering in membership program

Walmart is rolling out a new prescription savings offering as part of its membership program, Walmart+.

Walmart+ is the retail giant's equivalent to Amazon Prime, for a $98 annual fee members can gain access to free shipping for delivery orders as well as gas discounts and other benefits. Now, members can look up their medications to secure discounts, with thousands of drug products at $0 or up to 85% off.

The program works in lieu of insurance. If a member would save more on the medication through the Walmart+ discount card, they will instead pay that price, according to the announcement. Eligible prescriptions can also be submitted electronically by providers, Walmart said.

The Rx for Less program will not replace Walmart's existing $4 generics offering at its pharmacies, the retailer said.

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“With Walmart+ Rx for less, we’re providing incredible value to Walmart+ members on the prescriptions they rely on most,” said Cheryl Pegus, M.D., executive vice president of health and wellness at Walmart U.S., in a statement.

“When you consider the frequency with which many prescriptions are filled, the importance of medication adherence and the ease of multiple fulfillment options, we can make it easier for someone to manage their medical conditions. As a company, we’re on a journey to make health care more accessible and affordable with our pharmacists providing their clinical expertise to our customers," Pegus said.

The program is administered by pharmacy benefit manager and drug discount company MedImpact, Walmart said.