NerdWallet: Bilt Introduces Health Care Benefits at Walgreens

In the bustling realm of loyalty programs and reward systems, Bilt Rewards has carved out a unique niche. Unlike many of its counterparts, which focus on travel, shopping, or dining out, Bilt Rewards zeroes in on one of the biggest expenses many of us face monthly: rent. The significance of Bilt Rewards extends beyond just paying your rent; the program offers a multifaceted rewards system that recently became even more robust thanks to a noteworthy partnership with Walgreens. This collaboration is transforming the way members can benefit from their everyday health purchases, aligning perfectly with the needs of a health-conscious consumer base.

Flexible Savings Accounts (FSA) and Health Savings Accounts (HSA) provide practical ways to save money for healthcare expenses, offering tax advantages that make medical, dental, and vision expenses more manageable. However, the process of using these accounts can sometimes feel cumbersome and restrictive, given the specific eligibility criteria for purchases. Bilt Rewards’ strategic alignment with Walgreens aims to smooth out these wrinkles, offering a seamless integration that not only allows for effortless spending of FSA/HSA funds but also rewards users for their purchases.

The innovation doesn’t stop there. Bilt has ingeniously integrated a feature within its app that automatically identifies eligible health-related purchases at Walgreens. This convenience is a game-changer, effectively doing away with the need to carry and use separate FSA or HSA cards, which, let’s face it, can be a hassle. Adding a cherry on top, Bilt members earn points on all Walgreens purchases, making health-conscious shopping all the more rewarding.

The nuts and bolts of linking your Bilt account with an FSA or HSA card are refreshingly straightforward. Once your accounts are synchronized, Bilt’s intuitive app takes the wheel. It detects eligible FSA or HSA purchases at Walgreens and offers to apply your benefits to these purchases with just a click. This process not only ensures that you’re making the most out of your FSA or HSA funds but also accrues Bilt points for these transactions, whether they’re paid for directly with your linked FSA/HSA or through any other connected debit or credit card.

The allure of this partnership is undeniable. It marries the practicality of making necessary health purchases with the gratification of earning rewards, setting a precedent for how loyalty programs can offer tangible, everyday value beyond the usual travel and dining perks. This move by Bilt Rewards and Walgreens is emblematic of a broader trend towards more personalized, useful reward structures that meet people where they are — at the intersection of health and financial well-being.

The Bilt-Walgreens partnership doesn’t merely add another layer to Bilt’s offerings but addresses a widespread issue: the underutilization of FSA dollars. Reports indicate that approximately $4 billion in FSA funds go unspent annually, a staggering loss that stems from a lack of awareness about eligible purchases or the sheer forgetfulness of using FSA cards at the point of sale. Bilt’s solution not only counters this problem head-on but does so with the convenience and simplicity modern consumers crave.

Imagine walking into a Walgreens, filling your basket with essentials, and at the checkout, not having to sift through your wallet for your FSA/HSA card. Instead, you simply use any linked debit or credit card, and Bilt seamlessly applies your FSA/HSA benefits to eligible items. This not only simplifies the shopping experience but also ensures you’re maximizing the potential of your FSA/HSA funds without any additional effort.

Highlighting the privacy aspect of this feature, Bilt emphasizes its commitment to not selling member data. In an era where data privacy concerns are ever-present, this assurance is both comforting and essential, especially when it pertains to sensitive health-related purchases. As a result, members can enjoy the benefits of this program with peace of mind, knowing their health care purchases remain confidential.

Earning rewards with Bilt doesn’t require any special commitments or cards, making the Walgreens partnership even more accessible. Whether or not you link an FSA or HSA card, using any credit or debit card connected to your Bilt account at Walgreens triggers the rewards process. From there, the rewards structure is straightforward and appealing: one Bilt point for every dollar spent on all Walgreens purchases, double points on Walgreens-branded items, and a special bonus of 100 Bilt points on prescription refills, subject to certain exclusions.

For those wishing to amplify their rewards, the Bilt World Elite Mastercard® Credit Card offers an additional reward point per dollar spent on the card. However, it’s worth noting that certain cards may offer more points on drugstore purchases. To earn points on rent and other qualifying net purchases, the card must be used five times per statement period.

Stacking Bilt Rewards with other credit card rewards can significantly enhance your savings and reward earnings. Cards like the Chase Freedom Flex® or the Chase Freedom Unlimited® are excellent choices for drugstore purchases, offering robust rewards that, when combined with Bilt’s offerings, present a compelling value proposition. Bank of America® Customized Cash Rewards credit card and the U.S. Bank Altitude™ Reserve Visa Infinite® Card are also noteworthy for their rewards on everyday spending, including drugstores.