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Seniors Incur 42% of All US Drug Costs

Wed, 08/02/2000 - 11:00pm — Karen Stevenson
Description: 

FamiliesUSA has issued a report about past and projected future costs to the elderly of prescription medicines. Their study shows that the 65+ population constitutes only 13% of the population, but accounts for 34% of all prescriptions dispensed and 42% of every dollar spent on prescription drugs! Seniors will average $1,205 a year on prescription drugs in 2000, which will comprise about 10% of their average total healthcare expenditures of $12,028. There has been a 116% increase in prescription drug expenditures since 1992, as compared to a 59% increase in total healthcare expenditures during the same time period. These increases are due to changes in both utilization and cost. The average number of prescriptions increased from 19.6 in 1992 to 28.5 in 2000, and the cost per prescription increased from $28.50 in 1992 to $42.30 in 2000. FamiliesUSA had no figures for the percentage of this expenditure which would be born out-of-pocket in 2000, but pointed out that Medicare beneficiaries paid nearly half of their prescription drug costs out-of-pocket in 1996.

FamiliesUSA has issued a report about past and projected future costs to the elderly of prescription medicines. Their study shows that the 65+ population constitutes only 13% of the population, but accounts for 34% of all prescriptions dispensed and 42% of every dollar spent on prescription drugs! Seniors will average $1,205 a year on prescription drugs in 2000, which will comprise about 10% of their average total healthcare expenditures of $12,028. There has been a 116% increase in prescription drug expenditures since 1992, as compared to a 59% increase in total healthcare expenditures during the same time period. These increases are due to changes in both utilization and cost. The average number of prescriptions increased from 19.6 in 1992 to 28.5 in 2000, and the cost per prescription increased from $28.50 in 1992 to $42.30 in 2000. FamiliesUSA had no figures for the percentage of this expenditure which would be born out-of-pocket in 2000, but pointed out that Medicare beneficiaries paid nearly half of their prescription drug costs out-of-pocket in 1996.