Bilt Expands Neighborhood Rewards into Healthcare: Collaborates with Walgreens to Launch Automatic FSA/HSA Program

Business Wire 26-Aug-2024 9:30 AM

Collaboration Brings Innovative Neighborhood Pharmacy Benefits to Communities Nationwide, Helping Americans Save on Healthcare Costs

Bilt Rewards, the pioneering loyalty program that transformed rent payments into rewards, today announced a significant expansion of its neighborhood rewards program through a strategic collaboration with Walgreens, the leading independent retail pharmacy and healthcare provider. This cooperative effort 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.

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Bilt Rewards, the pioneering loyalty program that transformed rent payments into rewards, today announced a significant expansion of its neighborhood rewards program through a strategic collaboration with Walgreens, the leading independent retail pharmacy and healthcare provider. This cooperative effort 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. (Photo: Business Wire)

Bilt 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. The company 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 collaboration with Walgreens represents the next phase in Bilt's evolution, extending its community-focused approach to essential healthcare needs.

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:

1. 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.
2. 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.
3. 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.

"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."

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.

For more information about the Bilt Rewards program and the new Walgreens collaboration, please visit www.biltrewards.com.

Complete terms and conditions can be found here: https://www.biltrewards.com/terms/walgreens

About Bilt Rewards

Bilt Rewards is the first-ever rewards program that allows renters to earn points on rent and builds a path towards homeownership. Through partnerships with the nation's largest real estate owners, Bilt Rewards can be earned on rent payments at more than four and a half million rental homes across the country. Bilt Rewards boasts one of the highest value rewards programs on the market today, including one-to-one point transfers for travel across over 100 major airlines and hotel partners; fitness classes at the country's top boutique studios; limited-edition and exclusive collections of art and home decor through the Bilt Collection, and the ability to use points for rent credits or towards a future down payment. For more information, visit BiltRewards.com.

About Walgreens

Walgreens (www.walgreens.com) is included in the U.S. Retail Pharmacy and U.S. Healthcare segments of Walgreens Boots Alliance, Inc. (NASDAQ:WBA), an integrated healthcare, pharmacy and retail leader. True to its purpose of "more joyful lives through better health," Walgreens has a more than 120-year heritage of caring for communities and providing trusted pharmacy services, and today is playing a greater role as an independent partner of choice offering healthcare services that improve care, lower costs, and help patients. Operating nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily. The company's pharmacists are playing a more critical role in healthcare than ever before, providing a wide range of pharmacy and healthcare services, including those that drive equitable access to care for some of the nation's most underserved populations. Walgreens offers customers and patients a true omnichannel experience, with fully integrated physical and digital platforms designed to deliver high-quality products and healthcare services. Within the U.S. Healthcare segment, Walgreens portfolio also includes businesses in primary care, multi-specialty, post-acute care, urgent care, specialty pharmacy services, population health and provider enablement.

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