Kmart (NASDAQ:SHLD) has unveiled its new Pharmacy Savings Plus, a program designed to help Kmart shoppers who are uninsured or underinsured and who pay cash for some or all of their prescriptions, to save on prescriptions and other pharmacy products and services.
The program is not free. Shoppers enroll at a Kmart pharmacy in one of two membership plans: an individual membership for $10 per year or a household membership for $15 per year.
Program features include offering the 10 most commonly prescribed drugs for $3 each, similar to a Sam's Club's program. Members also receive 10 percent off prescribed pet medications and 25 percent off immunizations, plus additional savings offerings each quarter.
Kmart is tying Pharmacy Savings Plus to its Shop Your Way loyalty program. For every five prescriptions filled, shoppers get $10 in Shop Your Way points to use on qualifying purchases in store or online.
The retailer introduced a pharmacy rewards program tied to Shop Your Way in April, but this version lets shoppers do more than earn points.
This is not an insurance program, but rather one offering discounts that is closely linked with an existing loyalty program, one that Kmart and its parent company Sears Holdings are using to drive more sales from its best customers.
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