RxSaveCard offers employers a prepaid card that employees use to pay cash for prescriptions at any of 65,000+ pharmacies, automatically applying the lowest available discount from multiple sources. The direct cash transaction bypasses PBM fees, providing transparent pricing and allowing unused funds to roll over for continuous budgeting.
Funding
Funding not disclosed
Founders
Product
Problem
Prescription drug pricing is opaque and often inflated by pharmacy benefit managers, limiting employee choice and creating wasteful spending for both workers and employers. Traditional pharmacy benefit plans restrict competition and lack transparent cash pricing, making it difficult for employers to fulfill fiduciary duties to secure the lowest possible drug costs.
Solution
RxSaveCard provides a prepaid card that employers fund each month, which employees can use to pay cash for prescriptions at any of over 65,000 participating pharmacies, including online options. At the point of sale, the card automatically compares cash prices from multiple discount sources to ensure the lowest available cost is applied. Because the transaction is a direct cash payment, hidden PBM fees and markups are eliminated, delivering transparent pricing. Unused employer funds roll over month to month, allowing continuous budgeting without waste. The platform enables employers to meet ERISA fiduciary obligations by accessing and passing on the lowest drug prices to their workforce.
Target Audience
Primary customers are employers and benefits administrators seeking to reduce prescription drug costs while offering employees flexible pharmacy options.
Features
- Employer-funded prepaid card with monthly allocation that rolls over unused balances
- Real-time price comparison engine that selects the lowest cash discount across multiple discount cards at checkout
- Acceptance at a network of 65,000+ brick‑and‑mortar and online pharmacies, giving employees freedom of choice
- Direct cash transactions that bypass PBM intermediaries, removing hidden fees and markups
- Integrated dashboard for employers to monitor spend, fund usage, and savings metrics