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Prepaid card program helps parents deal with medical expenses

Jun 14, 2013 Sean Albert

Prepaid card program helps parents deal with medical expenses

Although the economy has been rebounding in the last year, many families are still struggling to cope with the negative effects of the Great Recession. Those issues are exacerbated for parents with children in need of intensive and regular medical treatment. Not only are there significant expenses related to treatment itself, parents are forced to deal with parking fees, missed time at work and surging gas prices that compound their financial problems, according to the Pittsburgh Tribune-Review.

However, one couple has organized a charitable program aimed at helping parents deal with these expenses. By using prepaid gas cards, Tony and Laureen Giorgio have been able to mitigate the financial hit that medical treatment has had on many American parents. The source reported that the couple - Pennsylvania-based Christian radio broadcasters - urged listeners to donate prepaid gas cards to families with patients at children's hospitals across the country.

The initiative has started off modestly but the Giorgios hope that it can expand to provide real assistance to families struggling. As the source noted, Pennsylvania residents are finding it difficult to pay for gas. In particular, counties around Pittsburgh can see prices eclipse $3 per gallon, making it expensive to commute into town from rural regions.

Overall, the easy to use products are becoming more popular with consumers as well as business owners. A recent surge of product offerings has made the prepaid market more competitive, forcing many card providers to eliminate fees to make their cards more attractive.

ATM Marketplace recently reported that data from Javelin Strategy and Research shows the prepaid market is expected to grow even further in the coming years. The source stated that the value of prepaid transactions in the United States was $120 billion last year. By 2018, prepaid transactions are predicted to reach $158.5 billion.