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Principal Financial Group Inc. has renewed a pharmacy contract with CVS Caremark that the insurer said will lower the cost of prescription drugs for its members.

Members with Principal health coverage will receive a new CVS Caremark ExtraCare Health Card that provides a 20 percent discount on more than 1,300 regular-priced flexible-spending-account-eligible CVS products at its pharmacy stores and online at CVS.com.

Members have the opportunity to earn rewards and coupons when using the ExtraCare Health Card and can receive special offers tailored to their individual health needs.