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DEERFIELD, Ill. – Walgreens announced Monday a major expansion of its neighborhood rewards program through a strategic collaboration with Bilt Rewards. This cooperative program introduces an innovative "Automatic Healthcare Savings” program, marking the first time customers can effortlessly apply any network branded Flexible Spending Account (FSA) or Health Savings Account (HSA) benefits card to purchases at a major pharmacy chain.
The company first came to market as the resident loyalty program at over 4.5 million homes, transforming rental payments by allowing consumers to earn points on their biggest monthly expense. Bilt then expanded into neighborhood rewards to help local merchants reach customers in their area and capture more wallet share through innovative rewards and benefits. This huge collaboration with Walgreens represents the next phase in Bilt's evolution, extending its community-focused approach to essential health care needs.
"At Walgreens, we're committed to improving the health and wellness experience for our customers and to meet them when, where and how they want to engage," said Bala Visalatha, SVP & Chief Product & Growth Officer at Walgreens. "This collaboration with Bilt, powered by the Banyan Platform, helps enhance the front of store and omnichannel experience for our customers and allows us to offer an unprecedented level of convenience, making it easier than ever for our customers to maximize their health and wellness benefits while earning rewards on everyday purchases."
The new program eliminates the need to carry separate FSA or HSA cards and removes the guesswork in identifying eligible items, addressing the approximately $4 billion in FSA dollars lost annually due to non-use. Key features of the Bilt-Walgreens collaboration include:
• Automatic FSA/HSA Savings: Members can shop at Walgreens using any linked debit or credit card in their Bilt account. Bilt's innovative system automatically identifies FSA or HSA eligible items and offers a one-click solution to apply benefits. This feature simplifies healthcare shopping by removing the hassle of knowing which items are eligible for FSA or HSA benefits in advance of purchase.
• Enhanced Rewards: Bilt Members earn 1x Bilt points on all Walgreens purchases, 2x points on Walgreens-branded items, and 100 Bilt points on prescription refills - subject to certain exclusions - all in addition to their usual card rewards.
• Complimentary Photo Prints: Coming soon, Bilt Members will have access to free photo prints at their neighborhood Walgreens pharmacy, providing a great way for locals to capture and relive their memories.
The Automatic FSA/HSA Savings and Enhanced Rewards benefits are available immediately, with the Complimentary Photo Prints feature set to launch in the near future.
Ankur Jain, CEO of Bilt Rewards, commented on the expansion: "Our mission has always been to add value to our members' daily lives within their local communities. By partnering with Walgreens and introducing automatic FSA and HSA savings, we're not just expanding our rewards program – we're simplifying healthcare expenses for millions of Americans. This is a significant step in our journey to become the nation's leading loyalty program for your home and neighborhood."
This new neighborhood pharmacy benefits program complements Bilt's existing partnerships with over 21,000 restaurants, 3,500 fitness studios, and rideshare services via Lyft. Bilt continues to be the leading resident loyalty and payments program, serving over 4.5 million residential homes across the country.
