Pharmacy chain CVS Caremark Corp. is launching a new service that will allow customers to pay their monthly health insurance bills at the drugstore.
The Bill Pay at CVS service, created in partnership with prepaid card and transaction services firm InComm, will roll out this spring. Customers enrolled in participating health care plans will receive insurance bills embedded with a bar code. They can then scan the barcode at CVS cash registers and pay the premium with cash, debit or credit cards.
"Millions of Americans have enrolled in health insurance this year for the first time and we want to help with this transition by providing an easy way to pay their premiums in our stores," says Josh Flum, senior vice president of retail pharmacy at CVS, in an April 21 press release.
CVS also allows eligible customers to pay their health insurance bills via MoneyGram's bill payment service. Most CVS stores offer MoneyGram phones or kiosks that allow customers to make cash payments while checking out, according to the press release.
CVS additionally uses QR codes with its mobile app to allow shoppers to scan products for information and apply coupons. The pharmacy chain is also a member of the Merchant Customer Exchange (MCX) merchant mobile wallet initiative.
InComm recently expanded an agreement with American Express to allow customers to reload their Amex Serve prepaid cards at Walmart stores. Serve users can also reload cards at CVS and 7-Eleven locations.
Many companies are attempting to serve the consumers and businesses that have new payment needs resulting from the Affordable Care Act. PayNearMe, for example, is looking to adapt its cash bill payment service to health care after receiving a $20 million round of financing this year.