Amazon Pharmacy expands $5 monthly subscription to Medicare patients
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[June 18, 2024]
(Reuters) - Amazon.com's pharmacy unit said on Tuesday it is
expanding eligibility for its monthly subscription service, which covers
a range of generic drugs, to those enrolled in government-backed
Medicare insurance plans.
Amazon has worked to lure customers away from more established
pharmacies like CVS and Walgreens since launching its pharmacy unit in
2020.
With the expansion, Amazon said over 50 million more people will be
eligible to use the service, known as RxPass, which was launched for
U.S. Prime members in January 2023 and is priced at$5 a month.
The subscription gives access to 60 eligible generic medications, 24/7
access to a pharmacist and free doorstep delivery of treatments for
Prime members. Through RxPass, Amazon Pharmacy offers up to 80% off the
cost of generics and up to 40% off the cost of brand name medicines for
members with or without insurance.
U.S. spending in the Medicare program for people over the age of 65 and
the disabled is projected to have grown by 8.4% to over 1 trillion in
2023, according to federal government data.
"Programs like RxPass help reduce cost, while increasing convenience for
caregivers, and customers of all ages, which is shown to improve
medication adherence and support better health outcomes," said John
Love, Vice President of Amazon Pharmacy.
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The logo of Amazon is seen at the company's logistics center in
Bretigny-sur-Orge, near Paris, France, November 25, 2022.
REUTERS/Benoit Tessier
RxPass could help reduce Medicare
spending by nearly $2 billion annually and help lower out-of-pocket
costs for older adults, Amazon said.
Medicare plan members who require one RxPass medication could save
about $70 a year, while those taking two or more could save more,
the company said.
(Reporting by Puyaan Singh in Bengaluru; Editing by Krishna Chandra
Eluri)
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