The health care system has been through a lot of changes and one of the outcomes consumers are dealing with is an increase in out-of-pocket costs on medications.
Cary, N.C. (PRWEB) October 30, 2014
Paramount Rx, a full-service prescription benefits manager focused on consumer-driven health care, is increasing efforts to help people save money through its innovative discount card program. As out-of-pocket expenses continue to increase for prescription drugs in the new health care system, the Paramount Rx program provides valuable savings and resources to bridge the relationship between consumers, businesses and the pharmacy industry.
One of the biggest challenges people face today with medical costs is the rising price of generic drugs, which many rely on to ensure they can afford important prescriptions. A recent report from Adam Fein of Pembroke Consulting found that half of all generics sold through retailers became more expensive over the past 12 months. In addition, one out of 11 generic drugs more than doubled in cost, with some increases exceeding 1,000 percent.
The Paramount Rx discount card program is designed to alleviate the burden for consumers as prices increase, saving card users up to 70 percent on generic drugs and up to 20 percent on brand-name medications through a national network of over 54,000 participating pharmacies.
“The health care system has been through a lot of changes and one of the outcomes consumers are dealing with is an increase in out-of-pocket costs on medications,” said Mike Sallusto, executive vice president of Paramount Rx. “We continue to enhance our prescription discount card program to assist those affected by these rising prices, providing resources for people to save money on necessary medications.”
Prescription discount cards are particularly beneficial for the uninsured, which accounts for 13.4 percent of the American population according a recent study from Gallup. Discount cards are also valuable for part-time workers who may receive little to no health care coverage from their employers. A number of large companies have been forced to reconsider providing coverage to part-time employees recently due to increased costs – underscoring the value prescription discount programs can serve for the public in the midst of an uncertain economic times.
Consumers are also facing higher co-pays and deductibles that apply to medications with existing insurance plans, and the Paramount Rx program can sometimes offer better savings. Paramount Rx recommends implementing a few best practices when filling prescriptions to ensure they get the best deal, such as first checking a prescription price through insurance and comparing it to the discount card rate. It’s also advisable to compare the discount rate with the pharmacy cash price, which sometimes offer lower rates through timely deals or promotions.
Paramount Rx works with a variety of organizations to establish partner programs to benefit their workforce and customer bases, from non-profits like the ASPCA to businesses like IBC Bank. It also developed relationships with more than 85 communities across Texas, Oklahoma and just recently expanded its footprint in North Carolina, partnering with the Holly Springs Chamber of Commerce and local businesses to offer free prescription discount cards to residents in the area.
To date, Paramount Rx programs have helped users save hundreds of millions of dollars off the retail price of prescription medications. For more details on Paramount Rx, along with information on how its programs provide costs saving for families and pets, please visit http://www.paramountrx.com.
About Paramount Rx
Paramount Rx is a full-service prescription benefits manager (PBM) focused on consumer-driven health care to help clients provide services for consumers to save money on prescription drugs. The company has tailored programs to help their customers and consumers achieve significant savings with discount prescriptions through a national network of over 54,000 participating pharmacies. For more information, visit http://www.paramountrx.com.