Does CVS Accept Care Credit in 2024? The Full Analysis
With over 9,900 pharmacy locations across the United States, CVS dominates as the #1 drugstore chain. They fill over 1.5 billion prescriptions annually. With such a massive customer base relying on CVS for healthcare needs, payment options like medical credit cards can be appealing to cover large bills.
So does CVS accept Care Credit, one of the leading medical credit cards with over 225,000 providers in their network? Let‘s take a data-driven look.
The Explosive Growth of Care Credit
Care Credit has become an increasingly popular payment method for healthcare expenses. According to Synchrony Financial, the bank issuing Care Credit cards, there was a 22% year-over-year surge in new accounts in 2021.
As more Americans grapple with rising medical costs, flexible financing has clear appeal. The Care Credit network has grown to include healthcare providers like dentists and veterinarians, retailers selling medical equipment, pharmacies, and more.
| Year | New Care Credit Accounts |
|---|---|
| 2019 | 6.3 million |
| 2020 | 5.5 million |
| 2021 | 6.7 million |
Why CVS Still Doesn‘t Take Care Credit
Despite Care Credit‘s growth, CVS has still not announced or implemented support for Care Credit cards as of January 2023. CVS runs one of the largest pharmacy chains in the country, filling over 6 billion prescriptions through their own services as well as Caremark‘s 90,000 retail network pharmacies.
Many customers wish CVS would accept Care Credit given their healthcare focus. However, CVS has their own prescription savings program called CarePass. For an annual or monthly fee, CarePass members receive discounts and rewards to shop at CVS locations and online:
- 20% off CVS Health Brand items
- Free 1-2 day Rx delivery
- $10 monthly coupon for CVS purchases
Essentially, CVS seems focused on promoting their proprietary CarePass rather than enabling third-party medical credit card benefits. There are surely complex financial factors and partnerships involved, but the outcome remains disappointing for customers wanting maximum flexibility in paying for healthcare.
Where Can You Use Care Credit?
Care Credit is accepted at hundreds of thousands of dental offices, hospitals, doctor‘s offices, retailers like Walgreens and Rite Aid, and even pet stores like PetSmart. While CVS may eventually join them, for now some top places to use Care Credit include:
- Duane Reade and Rite Aid pharmacies
- Dentists, orthodontists, periodontists
- Vision centers like Pearle Vision
- Veterinary clinics, animal hospitals
- Mobility equipment retailers
- Hearing aid centers
Check Care Credit‘s provider search tool to find places near you accepting their card.
What Healthcare Expenses Does it Cover?
While it would be nice to use Care Credit at CVS locations, it can still be worthwhile for these covered expenses:
- Deductibles, copays, coinsurance payments
- Dental work including braces
- Contacts, glasses, LASIK surgery
- Hearing exams and hearing aids
- Prescriptions
- Veterinary bills, pet medication
- Walkers, wheelchairs, scooters
- And more essential healthcare expenses
Care Credit now covers more wellness-related products as well including compression socks, vitamins, Humidifiers, and more.
When Might CVS Accept It?
There are signs Care Credit acceptance could come to CVS locations eventually based on consumer demand and the retail healthcare industry shift towards more flexible payment options. But with no announcements imminent, customers should focus on other pharmacies and providers for now. Check major chains like Rite Aid, Walgreens, and CVS‘ biggest competitor Walmart for Care Credit payment.
Conclusion: Use Care Credit Widely, Just Not Yet at CVS
In 2024, CVS still does not accept Care Credit based on their current pharmacy loyalty program setup. While disappointing for regular CVS shoppers, Care Credit continues to see growth across healthcare with over 225,000 dental, vision, hearing, hospital and retail provider locations in network.
Check their website for the latest list of participating providers and retailers where you can take advantage of Care Credit financing today. With healthcare costs continuing to rise, options like medical credit cards seem primed for even wider adoption. So future acceptance could come even to holdouts like CVS.
