Consumers increasingly being squeezed by rising out-of-pocket drug costs
An analysis of formulary data from Medicare Part D insurance plans revealed three concerning trends for consumers.
By Alan Goforth|January 03, 2022 at 01:04 PM
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The cost of medication continues to be a political football — and with good reason. Since 2014, the list price for all brand-name and generic medications has increased by more than 33%, and the 20 most-expensive drugs each has a list price of at least $28,000.
“But these high-price-tag drugs for relatively rare conditions don’t explain the struggle that so many Americans face in affording their prescriptions,” according to a report from GoodRx. “For most Americans, the struggle with affordable medications isn’t over the ones that cost thousands of dollars. It’s about affording routine drugs for chronic conditions and finding that their insurance doesn’t cover what it used to. In other words, Americans are paying more out of pocket.”
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