Medical Economics May 13, 2022
Lower household income and requiring multiple medications play large roles
While only 5% of older adults lacked prescription drug coverage in 2021 – down from 32% in 1998 – 20% reported financial hardship from prescription drug purchases, according to a study.
Those without prescription drug insurance, requiring multiple daily medications, and reporting a low annual household income struggled the most. Even those with insurance from lower income households still struggled when needing multiple daily medications.
The researchers said that among older adults in the United States, policies that reduce the out-of-pocket expenditures for prescription drugs appeared to reduce the burden of these expenditures, and suggest that managed care policymakers should consider policies that reduce out-of-pocket costs for older adults in...
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