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As Prescription Drug Prices Soar, Financial Education Benefits Center Will Offer an Rx Discount Benefit

As Prescription Drug Prices Soar, Financial Education Benefits Center Will Offer an Rx Discount Benefit

SAN RAMON, Calif., Nov. 22, 2017 /PRNewswire/ -- Prescription drug prices are higher in the United States than almost anywhere else in the world. While insurance may cover or partially cover the cost of some prescriptions, many people are uninsured or under-insured. Many of those who are insured still need to pay at the pharmacy to cover what insurance won't. The Financial Education Benefits Center will be offering a new Rx Card benefit that discounts prescriptions at participating pharmacies to help mitigate the costs of high prescription drug prices. "Prescriptions are necessary for so many people to not only live a healthy life but just to simply live," said Jennifer Martinez, manager at FEBC. "At FEBC, we know how the cost of these necessary meds can be a burden. So we will be offering this discount benefit to make that burden a little less."

Several factors contribute to the high drug prices. Because the United States has no national healthcare system like the U.K. or Canada, there's no way to negotiate for a nationwide price ceiling on prescription drugs. In our current healthcare system, insurers don't seem to be inclined to negotiate the prices of drugs, either. Additionally, Americans' high demand for prescriptions keeps a steady market of consumers. These reasons, among others, make it possible for pharmaceutical companies to raise prices so high.

Critics of the current system say it encourages profits to reign supreme over the well-being of Americans. And data has shown the high prescription prices are indeed preventing people from continuing treatment: a survey from 2013 showed one-fifth of American adults were skipping prescriptions because of the cost. More serious illnesses like cancer may require drugs that cost upwards of $100,000 for a year's worth of treatment — and people are delaying that often life-saving treatment because of cost as well.

FEBC wants to help reduce the number of people who are avoiding possibly necessary drug treatment because of the financial burden. Therefore, the Rx Card benefit will soon be available to all FEBC members. FEBC members will be able to search for participating pharmacies online or by calling an 800 number. After comparing prices at various pharmacies, they can choose the location that works best for them. When members go to pick up a prescription, they can present a membership card and receive a discount. The discount can also be applied to prescriptions for FEBC members' immediate family.

"This is a really simple way to save at the pharmacy," Martinez said. "And for the time being, it looks like prescription drug prices are just going to keep going up. So we believe it's a benefit that is going to be really useful to a lot of our members and their families for the foreseeable future."

About the Financial Education Benefits Center

The Financial Education Benefits Center is located in San Ramon, California. The Company has already helped thousands of people save money and obtain the necessary education required to live a financially free life.

The Financial Education Benefits Center has partnered with several name brand third-party companies to expand the financial and educational products and services available to its members and to provide a variety of wellness services as well.


To learn more about the Financial Education Benefits Center, please contact:

Financial Education Benefits Center2010 Crow Canyon Place Ste. 100San Ramon, CA

Related Links

FEBC homepage

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