Payactiv’s RxDiscount Program

According to a 2013 news release from the Mayo Clinic, seven in ten Americans rely on prescription medications.[1] Prescription drug use has increased steadily in the past decade, and medication-related spending is expected to grow in the coming years. Whether Americans require prescription drugs to help them to battle short-term illnesses or cope with chronic conditions, it is critical they maintain access to the medicine they need.

But maintaining this access can be challenging. Especially for Americans who are living paycheck to paycheck. For them, waiting for payday can mean going without essential treatments. Or it can mean using credit cards or taking out payday loans to purchase them, either of which can increase financial stress and take a toll on a worker’s well-being.

PayActiv can help.

PayActiv is not only a holistic financial wellness platform providing Earned Wage Access (EWA) to more than a million members across the US, but it has created a RxDiscount program for users. Through the PayActiv app, members can both leverage their earned wages to purchase medications for themselves or loved ones and take advantage of prescription discounts at participating pharmacies.

Finding one is as easy as entering a zip code and name of the medication needed. Once at the pharmacy, all PayActiv members have to do is show the pharmacist the discount via the PayActiv app.

PayActiv’s RxDiscount program combines with the platform’s other services, including financial counseling, budgeting and savings tools, and the ability to use earned wages to make purchases on Uber and Amazon, to help ensure the timing of pay does not keep workers from accessing the goods and services they need most—or force them to incur debt to do it.

According to a recent study on financial wellness, only 44 percent of employees believe that their employer cares about their financial well-being, and only 32 percent say their employer actually offers services to assist them with their personal finances.[2] It’s time that employers take a closer look at what financial wellness services they are able to offer their employees.

There is no reason to wait. Bringing PayActiv to your employees costs you, the employer, nothing. Yet it will make critical differences to your employees, especially when access to medication is curtailed by the COVID-19 crisis.

To learn more about PayActiv’s RxDiscount program and other aspects of its holistic financial wellness platform, please visit www.payactiv.com.

[1] Mayo News Releases, “Nearly 7 in 10 Americans Take Prescription Drugs, Mayo Clinic, Olmsted Medical Center Find,” Mayo Clinic, June 19, 2013, https://newsnetwork.mayoclinic.org/discussion/nearly-7-in-10-americans-take-prescription-drugs-mayo-clinic-olmsted-medical-center-find/.

[2] “Why Financial Wellness?” PwC Employee Survey 2016, PayActiv, https://www.payactiv.com/wp-content/uploads/2019/04/infographic-why-financial-wellness3.png.