CVS Caremark, GoodRx team up on prescription discounts

CVS Caremark is teaming with GoodRx to provide pharmacy discounts to commercial plan customers.

The two companies announced on Wednesday the launch of Caremark Cost Saver. In the program, eligible Caremark members will able to automatically access GoodRx's pricing, which will allow them to pay lower prices on generic medications when applicable.

The goal, the partners said, is to make the experience seamless and easy for members to use. The amount they pay will be applied automatically to the member's deductible and out-of-pocket caps, according to the announcement, and they only need to use their existing card at the pharmacy counter to access the offering.

“We work every day to provide a more affordable drug benefit for our CVS Caremark clients and their plan members, and this collaborative prescription discount solution enables us to dynamically shop for the best price on their behalf,” said David Joyner, executive vice president of CVS Health and president of Caremark, in the release.

“By lowering out-of-pocket costs for our clients’ members, Caremark Cost Saver will help patients afford to take their medicine as directed," Joyner added.

The program will be available beginning Jan. 1, 2024, according to the announcement. Caremark said its members will still have access to the benefits they're used to, including its "rigorous drug safety review" that alerts patients about potentially negative drug interactions.

“Healthcare only works when patients can afford it, which is why we are excited to work with CVS Caremark to combine their great value with automatic access to our low prices on prescriptions,” said Scott Wagner, interim CEO of GoodRx, in the statement.

“Through this program, patients don’t have to choose between using their pharmacy benefit or using GoodRx to save on their prescriptions—now they can do both right at the counter so they have confidence they are always paying the lowest available price," Wagner continued. "This collaboration can make a meaningful difference for the tens of millions of Americans that CVS Caremark serves.”