Signals Need for Affordable Medications

For the first time in almost a decade, the number of uninsured Americans is rising. Despite a somewhat healthy economy and  fair employment numbers, the uninsured rate rose from 7.9% in 2017 to 8.5% in 2018. This means that the number of people without health insurance jumped from 25.6 million to 27.5 million between 2017 and 2018. That's 1.4 million people that lost their coverage in the space of a year.

Consumers are feeling the squeeze as they are caught between loss of insurance coverage and the rising cost of prescription drugs, especially for long-term chronic conditions. No one should have to choose between their health and being able to pay for life's necessities. This is why access to affordable medication is so important.

So why do prescription drugs in the U.S. cost so much? Although big Pharma would like to have us believe that medications cost more because of research and innovation, that doesn't seem to be the case.

Even when a drug has been on the market for years, sometimes there are significant price increases that seem to defy common sense. Insulin prices are a prime example. Prices have tripled over the past ten years in some cases, even though the product isn't improved. These dramatic price increases cause some people to ration their insulin, often with disastrous consequences.

So what are you supposed to do if you can't afford your medication? Your first step might be to see if obtaining Medicare is an option.