HSARx – launched in August 2022 and offering traditional pharmacy benefit management savings directly to health savings account subscribers – announced today that it has partnered with two general agencies in Arizona to expand the reach of its offerings.
The agencies include Paragon Partners and Arizona Benefit Administrators, which encompass over 300 brokers throughout Arizona and the United States. As part of their agreement with HSARx, these general agencies and their brokers – among existing and future partners – will receive a commission payment on each prescription filled through the program.
HSARx is available to all consumers and can equate to significant savings compared to existing competitors, with no coupons or gimmicks needed. With HSARx, consumers may use pre-tax HSA dollars or a personal debit or credit card to pay for their medicine, all while saving 40 to 80% on all levels of medications. By integrating directly into consumers HSA account or debit/credit card, HSARx offers the consumer all the benefits and cost savings that have been available traditionally to large health insurance companies.
“On the heels of our recent launch, the buzz surrounding our broker commission model and consumer savings has been very strong,” said Dennis Sponer, CEO of HSARx. “We’re grateful to have these two general agencies on board and look forward to growing together in the times ahead.”
In terms of related data, approximately $75 billion in health care dollars fall under the management of HSAs. Growth in the sector is increasing at a rate of 19% per year. Approximately 13% of Americans lost their prescription drug coverage from their health insurer in 2020 and 28% of Americans take at least one prescription that is not covered by their health insurance.
