Rx Save Card offers an integrated pharmacy benefit and payment product that lets employers fund a preset monthly card which employees can use to pay for prescriptions at over 65,000 participating pharmacies. The product aggregates cost-containment strategies into a single navigation and payment experience intended to bridge the gap between restricted PBM plans and out-of-pocket discount options. It is positioned to help employers reduce employee out-of-pocket spend while addressing ERISA fiduciary concerns raised in recent class-action lawsuits for self-funded plans. The company cites a $600 billion prescription drug market and rising pressure from high-cost drugs such as GLP-1s as drivers of demand, and notes that 165 million Americans receive pharmacy insurance through employers. With the new funding, Rx Save Card plans to scale its team and technology to expand distribution and product capabilities. The company was founded by Chris Crawford and other veterans of the pharmacy benefit and payment spaces and has raised $1.7M in a seed/pre-seed round.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Aug 2024