Paramount Rx is helping customers achieve extended costs savings on generic drugs through its prescription benefits card program. The Paramount Rx program saves consumers up to 70 percent on generic, brand-name equivalents and offers a valuable resource in the midst of rising health care costs.
Federal law grants the distribution rights to a single generic manufacturer for a six month timeframe once the patent expires on a drug. During this period, the cost savings are about 20 percent compared to the brand drug and drop considerably after that. According to the U.S. Food and Drug Administration (FDA), generic medications cost 80 to 85 percent less on average than their brand-name counterparts. Two highly-anticipated drugs scheduled to become available in generic form over the next six months include Cymbalta, used to treat depression and Niaspan, used for high triglycerides.
“When discussing treatment options with a doctor, it makes sense to ask if generic medications are available to take advantage of potential cost savings,” said Michael Sallusto, executive vice president of Paramount Rx.
In an effort to extend the savings on these types of generic drugs for consumers, while also offering reductions on the price of brand-name medications, Paramount Rx has developed a national discount network of over 54,000 participating pharmacies. The program is especially beneficial for the millions of Americans who are uninsured or underinsured. All FDA-approved drugs are available through the Paramount Rx program.
Providing the best discount savings through the Paramount Rx network are some of the most common types of maintenance drugs, including hypertension medications such as Norvasc, Coreg and Zestril, along with those used to treat high cholesterol like Zocor and Lipitor. These drugs typically cost between $2-4 per dose for brand-name and $0.25-0.40 per dose for the generic.
Utilizing the Paramount Rx card to receive discounts on prescriptions requires no deductibles or maximum benefit levels and no exclusions for pre-existing health conditions. The program also hosts online tools and resources to help users locate one of its participating pharmacies across the nation, research drug pricing and availability, including generic alternatives, and access mail order services.
With new federal legislation rolling out, the American healthcare system is seeing big changes. “As the industry continues to evolve and attract attention across the nation, we are providing a useful tool for both employers and consumers to find more balance with savings they can count on to navigate the new landscape,” Sallusto said.
For more details on the Paramount Rx prescription discount program, along with details on how consumers can achieve unparalleled cost savings for their families and even their pets, please visit www.paramountrx.com.