CVS makes it easy for shoppers with HSA/FSA accounts
WOONSOCKET, R.I. CVS/pharmacy on Wednesday announced a new shopper program for customers enrolled in Health Savings Accounts and Flexible Spending Accounts—new, easy-to-read register receipts that highlight prescription medicines, over-the-counter remedies and other qualifying purchases so they can be easily identified and tracked with a special symbol indicating which items are HSA/FSA-eligible. “The use of health savings accounts and flexible savings programs has grown dramatically over the past two years,” stated Rob Price, senior vice president of marketing for CVS/pharmacy. “But many consumers don’t realize that managing their funds throughout the year can be simple and, more importantly, can result in significant cost-savings, particularly for those with chronic conditions.”
To make redemption of HSA/FSA funds as easy as possible, CVS/pharmacy register receipts also present separate sub-totals for items that are HSA/FSA-eligible.
An increasing number of consumers participating in FSAs rely on FSA debit cards loaded with predetermined limits. Consumers who present these “flex cards” to complete a transaction at CVS/pharmacy will experience the immediate benefit of the FSA sub-total being deducted directly from the shopper’s flex card, the company stated, while the remaining total for non-FSA items will be organized for the shopper to purchase with an alternative method of payment.
Already, CVS had previously tied its HSA/FSA offerings to its ExtraCare card program—ExtraCare members can call a toll-free number to receive a list of HSA/FSA-eligible purchases made with their ExtraCare card going back 14 months.
IRI inks deal for tracking data with Duane Reade
CHICAGO Information Resources Inc., a Chicago-based market research firm, has announced that its IRI InfoScan Reviews retail tracking service now includes data from Manhattan-based pharmacy retailer Duane Reade.
The data covers Duane Reade’s 240-plus stores in New York and New Jersey and will be available starting June 26.
“The addition of Duane Reade data provides a significant upgrade to IRI’s industry leading InfoScan Reviews offering and gives IRS customers incredible insights to performance at Duane Reade stores,” stated IRI retail president Tom Peterson. “We are delighted to establish a partnership with New York City’s largest drug store chain.
InfoScan Reviews present IRI InfoScan census-level data from more than 34,000 stores as a syndicated service. InfoScan Reviews includes category definitions, a standard single-product hierarchy, a measure set and list geographies to provide visibility into the grocery, drug and mass merchandiser and convenience channels, as well as a combination of those channels.
Supervalu to eliminate some corporate jobs
MINNEAPOLIS Supervalu said it will eliminate more than 100 jobs at its corporate offices in Minneapolis and Boise over the next 12 to 18 months as it switches to a third-party provider for some of its financial services.
In a statement, Supervalu said the decision was made “after months of careful analysis as part of our ongoing efforts to improve operational efficiencies and enhance our competitiveness.” Supervalu did not identify the third party provider in its statement.