Prescription Medications

The rapid growth in spending on prescription drugs has pushed up health insurance premiums for individuals and families, has contributed to increases in the cost of health benefits provided by employers, and has driven up the cost of Medicaid, the joint federal and state program for people on low incomes. Proper healthcare is not available to a person with a low-income level.
According to a 1998 survey by the Wall Street Journal, 80 percent of retirees use a prescription drug every day, and the average Medicare beneficiary needs 18 prescriptions a year (Brock). Retirees have a fixed income not allowing extra money to flow in and out of their budget. Paying for prescription medications puts a strain on their financial situations. There are three main factors accounted for the overall rise in spending; an increase in the number of prescriptions written by doctors (accounting for 42%), a shift towards the use of more expensive drugs (36%), and price increases (22%) (Charatan).
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