Today, we are adding a new service: ID.me Rx. This service allows individuals who choose to create an ID.me Rx account to save up to $95 per prescription rather than buying the drug at retail or higher co-pay prices. Additionally, ID.me Rx enables people to search for these savings at pharmacies across the country so they can save while at home and traveling.
An academic study from Harvard showed that persons with prescription co-pays of $40 to $50 were 3.4 times more likely to abandon that prescription purchase and persons with prescriptions co-pays over $50 were 4.7 times more likely to abandon the purchase. Half of all drugs covered by Medicare had prices that increased faster than the rate of inflation.
ID.me Rx helps increase prescription price transparency and price savings. As drug prices can vary across pharmacies and plans, our goal is to empower consumers to navigate the marketplace more efficiently. Given the relationship of drug prices to inflation and prescription abandonment, we believe it is more important than ever to equip consumers with more price transparency and choice.
In line with ID.me’s privacy bill of rights, users must provide consent to the use of their information prior to participating in ID.me Rx. ID.me does not currently plan on storing drug specific data related to a user. If ID.me chooses to allow individuals to store their drug prescriptions with ID.me in the future, then ID.me will make this available as an “opt-in” choice where users are by default “opted out.” ID.me’s goal is to put users in control of the experience.