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Dealing with Price Hikes on Prescription Medications

The rising cost of health care is a huge challenge facing consumers today and the problem isn’t showing signs of dying down. As highlighted in a recent Consumer Reports story, one-third of Americans who regularly take prescription medications have been hit by rising drug costs this year. Consumers paid an average of $39 above the usual cost for their prescription, with one in 10 paying $100 or more out-of-pocket.

While these escalating prices can hit hard on anyone’s wallet, the problem can be even more difficult for folks who have no health insurance or receive very little coverage. As the report reveals, some consumers have had to make dramatic changes to their own lifestyle and spending habits to make due, cutting down on how much money they spend at the grocery store and even weighing in on whether they chose to retire last year.

Higher health care costs aren’t going away anytime soon, but a prescription discount card is a great resource for consumers to achieve some much-needed savings at the drug store. For generic prescriptions, which have been hit particularly hard by rising prices, a Paramount Rx discount card can save users up to 70 percent off the retail price. The Paramount Rx program also offers online tools to help participants locate a participating pharmacy, and research drug pricing and availability.

While prescription discount cards are especially beneficial for people who are uninsured or underinsured, the program has also benefited people with existing insurance as it can sometimes offer better savings in the face of high co-pays and deductibles.

In addition to working with a national network of over 57,000 participating pharmacies, Paramount Rx has established partnership discount card programs with a variety of organizations to benefit their employees and customers – from local chambers of commerce to major supermarkets and national nonprofits.

To date, the Paramount Rx prescription discount card program has helped the public save millions of dollars off the retail price of prescription medications and will continue to play an important role in the health care landscape as consumers look for useful ways to combat rising drug costs.

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