Approximately 70% of Americans take at least one prescription medication. And, according to a new study, a number of Americans are facing increasingly high prescription costs. The prices for new hepatitis C and cancer treatments have rapidly increased the cost of prescription medications for more Americans.
The number of Americans taking pharmaceuticals worth more than $50,000 annually increased 63% in 2014, from 352,000 to 576,000. Likewise, the estimated number of Americans taking at least $100,000 worth of medicines climbed 193%, from 47,000 to 139,000 people. Many of these people are among the sickest. Of those taking drugs that cost at least $100,000 last year, over one-third were being treated for at least 10 different aliments and over 60% were taking at least 10 different prescription drugs, according to the report.
The amount of Americans taking expensive prescriptions is rising very quickly. Many of those taking costly drugs require them long term, so they will not be leaving this category any time soon. While new treatments for hepatitis C and cancer are high, the prices of some generic drugs, which are often viewed as lower-cost alternatives, are also rising.
According to the report, nine out of 10 patients with drugs costing $50,000 or more were using specialty drugs. Of the patients using drugs costing $100,000 or more, 32% had used a cancer medication. Additionally, the number of Americans in the highest-cost category using medication for hepatitis C climbed a whopping 733% last year.
While you may not be in one of these high-cost categories, you are still likely spending a lot of money on your prescriptions. To cut back the costs of your prescription medications, sign up for a free prescription discount card. With the WiseRX discount card, you simply present it at your pharmacy to receive your discount. Our discount card is accepted at over 60,000 pharmacies nationwide, including all major chains and even local independent pharmacies. Visit us online to start saving today!