prescription drug costs

Are You Prepared for the Rising Cost of Prescription Drugs?

15 May: Are You Prepared for the Rising Cost of Prescription Drugs?

Did you know that the cost of dozens of prescription medications has doubled since 2007? The rising cost of prescription drugs is a frightening thought, isn’t it? With many cancer drugs exceeding a cost of more than $10,000 per month and one cystic fibrosis medication costing over $300,000 per year, you might be happy if you don’t need those medications. However, more commonly-prescribed medications for everyday ailments have also increased in price significantly over the last few years. Why Prices Are So High You might wonder why drug prices are going up so drastically. After all, these aren’t necessarily new drugs and they haven’t made improvements to them. They are the same old drugs you’ve been taking for years. Take a drug…

28 Aug: Stats: More Americans getting priced out of prescription drugs

An article by Isaiah J. Poole of the Campaign for America’s Future offers some striking statistics highlighting the current crisis in healthcare costs. Poole notes the particular strain on Medicare, which currently is prohibited from negotiating prices with drug companies (even though other government entities have long done so). Some of Poole’s stats: Researchers at the University of Minnesota report that prices of some drugs have gone up well over 100 percent, and in a few cases over 1,000 percent, in the past year. Cost increases like these are already expected to have a ripple effect on private insurance premiums. An Aon Consulting report released this week projects that health care costs will be up 10.6 percent next year, increases…

18 Aug: What is prescription drug insurance, anyway?

Journalist Carol M. Ostrom wrote a well-researched — and heartbreaking — story on prescription drug insurance that appeared in Sunday’s Seattle Times. Ostrom looks at the increase in the number of biotech specialty drugs that aren’t covered by traditional insurance co-pay plans. Instead, patients must pay a percentage of drug costs — which in some cases, can be financially devastating. Gary Claxton of the Kaiser Family Foundation tells Ostrom that such changes in insurance plans are threatening to defeat the purpose of health insurance in the first place. Says Claxton: The idea of prescription drug insurance is to protect people from catastrophic costs … At some point, people aren’t going to consider themselves insured if they’re at risk for a…