Amazon Introduces Affordable Healthcare Subscription Service For Uninsured Consumers

Amazon Introduces Affordable Healthcare Subscription Service For Uninsured Consumers
  • Amazon.Com, Inc AMZN launched RxPass in select U.S. states, a new Prime membership benefit from Amazon Pharmacy that provides patients with affordable access to generic medications that treat more than 80 common health conditions for just $5 a month
  • With RxPass, Prime members can avail of desired eligible medications for one flat, low fee of $5 and have them conveniently delivered free to their door. 
  • Over 150 million Americans, on average, take one or more of the medications available through the RxPass monthly subscription.
  • People with government-funded insurance like Medicare or Medicaid were not eligible to sign up for RxPass.
  • The average Prime member would save about $100 per year with RxPass, Reuters reports citing Amazon Pharmacy VP John Love's interview.
  • The flat $5 charge would be without insurance and on top of the Prime membership fee, which costs $139 per year in the U.S.
  • The new service aligns with Amazon's ongoing focus on its healthcare portfolio, which includes telehealth, drug delivery, fitness trackers, and cancer research.
  • In 2022, Amazon launched Amazon Clinic, a message-based virtual care service that connects customers with affordable virtual care options at home, after dinner, at the grocery store, or on the go for more than 20 common health conditions, like allergies, acne, and hair loss. Separately, it wound down Amazon Care, its startup telehealth service.
  • Various Big Tech companies focused on healthcare services. In 2022, Apple Inc AAPL shared its focus on providing a secure place to store their health and medical information on iPhones while using tools like the Apple Watch to caution users toward better health.
  • Price Action: AMZN shares traded lower by 0.27% at $97.26 in the premarket on the last check Tuesday.
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