Blogs - Banyan Welcomes Alpesh Chokshi as President

August 2024

Bilt Rewards, the pioneering loyalty program that transformed rent payments into rewards, 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.

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.

"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."

--- Bala Visalatha, SVP & Chief Product & Growth Officer at Walgreens

Key features of the Bilt-Walgreens collaboration powered by Banyan's SKU-level data platform 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.

For more information, see the press release here

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