Choice Strategies - a leading provider of consumer-directed
benefit programs - today launched RxAbility, an automated health
reimbursement account (HRA) solution that allows employers and employees
to share increasing out of pocket pharmacy costs.
RxAbility is a paperless, debit card-based solution that enables
employers to define customized cost sharing arrangements for Rx on a
transaction by transaction basis instantly at the point of sale.
"This new automatic debit card-based feature makes it easy for
employers to implement pharmacy cost sharing plans that strengthen
participant engagement, encourage responsible utilization and increase
plan satisfaction," said Nicole Williams, Senior Director, Choice
Strategies. "It's a solution that helps advance the goals of
consumer-driven healthcare for both employers and employees."
Unlike medical deductible expenses, which do not require upfront
payment, pharmacy expenses must be paid at point of sale. Until now,
employers seeking to help employees with a portion of their Rx expenses
have had limited options.
Traditional health debit cards have only given employers the
option to pay either 100 percent or zero percent of each Rx claim. While
partial pay plans are available through some HRA administrators, they
require employees to pay up front and then submit manual claims for
reimbursement of their employer's contribution. This can be a
significant financial burden and a source of frustration for employees
and often results in 'all or nothing' plans rather than cost sharing
arrangements where the employer pays a percentage of each Rx expense.