Prescription drug prices are skyrocketing and Americans are struggling to pay

The cost of prescription drugs is skyrocketing. A new report shows that even during the pandemic, consumers had to pay three times as much for some of their drugs.

The last RX Price Watch Report AARP shows that the prices of brand-name drugs have been rising faster than general inflation for more than a decade. For the average older American taking 4.7 prescription drugs per month, the annual cost of treatment was over $ 31,000 in 2020, more than three and a half times the cost seen 15 years earlier. This amount exceeds the average annual income of Medicare beneficiaries.

Rolesville residents Judy Light and her husband have been directly affected by the high prescriptions.

“My fear is that we have nothing to live on and that we have to continually pay these prices,” Light said.

Light says she takes ten drugs and her husband takes nine. These drugs cost them thousands every month, even with insurance.

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When it comes to a prescription, their reimbursable cost last year was $ 200 for a three-month supply, but now it’s over $ 1,000.

“When you have to pay that kind of price on a fixed income, it’s just not possible. I’m one of the lucky ones. We had our house paid for, so now we have to refinance our house to pay our medical bills,” said Lumière.

Leigh Purvis, Director of Healthcare Costs and Access, AARP Public Policy Institute reminds us that high costs impact everyone.

“Everyone with health coverage pays for prescription drugs through their premiums and cost sharing, and you also pay as a taxpayer because your taxes go to programs that pay for prescription drugs,” she declared.

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To save money on prescriptions, talk to your doctor first to see if there is a cheaper alternative to the drugs you are already taking.

Another way to save money, look at free prescription drug discount cards or online websites or apps, like GoodRX which tracks drug prices. How it works is that you put your prescription details on the app and then you will get the cost of the prescription from pharmacies near you. Prices vary from drugstore to drugstore, and you choose the one that meets your needs.

“There is a lot of variation in the market for prescription drug prices, and that’s something you’ll see when you go to these websites. You know, just driving five miles can save you money. substantial, ”Purvis said.

GoodRx is not the only option. There are several other prescription drug discount cards that you can find at your doctor’s office or local pharmacy, but the key is to do your research. Cards are free, you shouldn’t have to pay for the services. Also, don’t forget the local pharmacies as they often have their loyalty programs. Another tip, don’t forget the price alignment, sometimes a pharmacy will align the prices if you find a better price in another.

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