The Burden of Prescription Drug Prices on Seniors
America’s seniors are increasingly finding it harder and harder to pay for prescription drugs. The 2021 Healthcare in America Report, published in December 2021, details the experiences and the impact these costs are having on seniors including skipping medications to save money or foregoing care all together.
- More than 1 in 10 Americans age 65+ have skipped a pill to save money in the past year. Among Hispanic seniors, it is nearly 1 in 5.
- 94% of Americans age 65+ agree that the cost of prescription drugs in America is too high.
- 34% of Americans age 65+ are concerned that their household will be unable to pay for necessary prescription drugs in the next year. Among Black seniors, 42% are concerned.
- The number of Americans age 65+ that have been unable to afford prescription drugs in the past 3 months has tripled over the past year – from 3% in March to 9% in October.
- Black seniors were significantly more likely to be unable to afford their drugs than White seniors, with 13% unable to afford their medication compared to 8%.