CVS/pharmacy Makes It Easier for Consumers to Save Money and Track Spending with Health Savings and Flexible Spendin... (t aside a portion of his or her pre-taxe...)

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CVS/pharmacy Makes It Easier for Consumers to Save Money and Track Spending with Health Savings and Flexible Spending Accounts

Date:6/18/2008

t aside a portion of his or her pre-tax earnings to pay for health care expenses not covered by health insurance plans. Money deducted from an employee's pay into a HSA/FSA is not subject to payroll taxes, resulting in substantial payroll tax savings. Common costs covered by HSAs and FSAs include prescription drug co-payments and OTC products ranging from cold and flu remedies and allergy treatments to eye care products and blood pressure monitors.

Virtually all FSAs have "use it or lose it" policies which establish annual deadlines for redemption of the available funds; these policies are determined by employers but a majority are arranged to correspond with the calendar year, meaning that all funds not used on or before December 31 are lost to the account holder. Some HSAs are automatically rolled over for future medical expenses but policies may vary.

ExtraCare basics

CVS/pharmacy's ExtraCare program is the largest consumer rewards program, with more than 50 million cardholders. Cardholders receive 2% of most purchases back quarterly, delivered in the form of free "CVS money" called Extra Bucks. Additionally, members receive benefits such as instant targeted offers on register receipts. More than ten million ExtraCare members have enrolled in CVS/pharmacy's email alerts program, which delivers additional coupons and health and beauty information directly to shoppers' email inboxes.

About CVS/pharmacy

CVS/pharmacy, the retail division of CVS Caremark Corporation (NYSE: CVS), is America's largest retail pharmacy with 6,300 retail locations. CVS/pharmacy is committed to improving the lives of those we serve by making innovative and high-quality health and pharmacy services safe, affordable and easy to access, both in its stores and online at CVS.com. General information about CVS/pharmacy and CVS Caremark is available at http://www.cvs.com/pressroom, as well as

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