New Bank of America Credit Card With Pharmaceutical Rewards Program

The no-annual-fee credit card offers numerous prescription drug-oriented reward opportunities and will be available to all individuals covered by a Caremark administered prescription drug plan or enrolled in one of Caremark's discount card programs.

In addition to earning reward points for retail purchases, cardholders will receive reward points each time they purchase a generic drug or a preferred brand prescribed drug, as determined by the cardholder's pharmacy benefit plan drug list or formulary. Points also will be awarded to cardholders who refill existing prescription orders using cost saving technology such as Caremark's internet Web site or automated phone system. In addition, cardholders will receive reward points for registering on http://www.caremark.com or updating an existing profile on Caremark.com with their credit card account number.

The points can be redeemed through Bank of America's robust WorldPoints program for merchandise, travel, and cash back. Caremark and Bank of America plan to introduce additional pharmaceutical-focused reward opportunities over time.

"We are extremely pleased that Bank of America shares our vision and desire to reward consumers for managing the cost and quality of their prescriptions and pharmaceutical needs," said Mac Crawford, Caremark Chairman, President and Chief Executive Officer. "We think the new Caremark credit card represents an excellent way for plan sponsors to encourage their members to choose clinically appropriate and cost-effective prescription drugs. This card program also adds to the extensive array of tools and services that Caremark offers to help consumers take greater responsibility for managing their pharmaceutical costs. We look forward to working with our clients to build enrollment for this strategic program."

According to Bruce Hammonds, president, Bank of America Card Services, "We are very focused on the healthcare sector and are particularly committed to providing creative solutions that drive beneficial consumer behaviors. This program demonstrates the innovation that Bank of America brings to the health care arena."