CVS' new insurance bill pay service comes at critical time

CVS Caremark has long stressed its commitment to reinventing pharmacy, and news of a bill pay service for health insurance premiums is in line with that mission and is yet another first that the trailblazer can add to its ever-growing list.



As the article states, customers can now visit their local CVS/pharmacy to pay their health insurance premiums at no additional cost. CVS/pharmacy is the first national retail pharmacy to offer this service.



The service in and of itself is notable, but of course, the timing of launch is what makes it especially important. It is no secret that health care is going through a period of intense change as millions of previously uninsured Americans gain coverage due to healthcare reform.



CVS Caremark has played a key role in providing the uninsured with information about new health insurance coverage opportunities. In fact, in September 2013 the company unveiled a companywide information and outreach program that comprised of retail events and brochure displays at CVS/pharmacy stores and MinuteClinic locations to help customers navigate their insurance options.



Why? A CVS Caremark survey had found that pharmacies would be a primary resource to meet the needs of uninsured Americans, with 68% of those surveyed expecting retail pharmacies to offer health insurance information in store and/or online. Among those asking for help, Hispanics and the youngest group surveyed (ages 18 years to 35 years) were significantly more likely to say they need help understanding the exchanges.



This new bill pay service is a natural evolution in helping those newly enrolled patients transition and have access to an easy way to pay their premiums in store.