Merchant Innovation

CVS Will Launch In-store ‘Bill Pay’ Service for Insurance Premiums

Health plan participants will be able to pay their monthly premium bills featuring a customer-specific barcode at the register.

CVS/pharmacy will be launching a new service called Bill Pay in spring 2014, according to Chain Store Age.  The service is designed to help customers manage their monthly health insurance premiums.

Health plan members can bring their insurance bills to any CVS/pharmacy store in the U.S. to pay their premiums at no additional cost.

The company has partnered with InComm to process the bill payments at all cash registers in the pharmacy or at front checkout.

Participants will receive their monthly premium bills featuring a customer-specific barcode and instructions on how to pay their premium with new service. CVS will scan the barcode and collect the member’s desired payment.  The member can pay with cash, credit card or debit card.

CVS/pharmacy will also accept insurance bill payments from members of health plans that are enrolled in MoneyGram’s bill payment service.  However, the MoneyGram payments can only be made in cash.

 

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