Thursday, October 8, 2015

Americans Continue To Struggle With Prescription Drug Costs

Intelligent Solutions in Pharmacy Benefits
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Prescription Drug Costs

Once again prescription drug costs are making headlines as they continue to put a strain on our wallets. As reported recently by CNBC, approximately one third of Americans who rely on prescription medications are still struggling to keep up with price changes, and as a result, they're cutting back on their spending elsewhere. Though a $40.00 increase (on average) may not seem like much, it sure does add up quickly - especially for those who need more than one prescription.

In addition to cutting back on recreational activities or worse - cutting back on other things they need like groceries and food - CNBC explains that some patients are starting to view their prescriptions differently and "cut corners" with how they use them. And the result? Certainly a negative one on their health. In fact, the CNBC article details that Consumer Reports found that "24 percent of people who had seen higher drug prices in the past 12 months had skipped filling a prescription because of the cost."

Although health insurance changes have been made due to Obamacare, the out-of-pocket costs are what is doing it for patients. Brand-name, generic and specialty drugs have all seen a spike in price, and unfortunately, many of the common medications utilized are rising the most. "Medications that treat common conditions including asthma and high blood pressure were at the top of a list of drugs whose prices have risen in recent years," says CNBC. 

Since the need for prescription medication is certainly going to stick around, it is important for all providing entities to stay up to date with their pharmacy benefits to ensure that employees and members have the coverage they need to obtain what they need. If you're in charge of your entity's pharmacy benefits, give us a call at (888) 797-2479 or visit to learn how we can audit your plan for accuracy today!

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