Americans face spiraling prescription drug debt

Another 33% of respondents said the cost of their prescription drugs had increased over the past year, while only 7% said costs had decreased. Due to high costs, respondents adopted a few methods to save, including buying generics (50%), using discount programs (30%), and choosing a 90-day supply (30%). ). Others are adopting alternative payment methods, such as over-indebtedness on their credit card (21%) or borrowing from family (18%), while only 16% have used a health savings account (HSA ) to pay for their prescription drugs.

“Most people on Medicare are on fixed incomes,” HealthCare.com Pharmacy Director Apral Jones said in a statement. “If there is an increase in the cost of their drugs, it has a direct effect. People should learn about generics and discount programs, and buy larger quantities of drugs to reduce expenses as much as possible.

When asked how to combat the high cost of prescription drugs, 40% of respondents think the government should regulate prices, while 34% said they think Medicare should be able to negotiate prices medicines – what the law on reducing inflation will allow in the years to come. Another 15% said Americans should be able to buy cheaper drugs in Canada and 11% said the government should create more transparency.

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