How Increasing Drug Prices Can Affect You

April 15, 2016


How Increasing Drug Prices Can Affect You
Picture Courtesy of:

Tips to Better Understand Drug Prices 

Today in America, healthcare is getting more and more expensive. Drug prices are one major component that healthcare consumers need to be aware of.  Although healthcare is expensive there are different options regarding prescriptions and medicine.

Unfortunately, even though we are offered generic options for our prescriptions and medicine, not only are name brand product’s prices increasing, but generic is as well!

Generic drugs currently account for around 80% of prescriptions and although they are a great alternative when looking to save money, their prices are rising quickly. At least 27% of generic drugs have experienced a significant spike in pricing.

Why are they rising?

AARP claims that when manufacturers for a certain drug decrease, that causes the prices for that drug to increase due to the reduction in competition.

As a consumer here are some tips to in order to save money:

  1. Always ask for the generic version of your medication.
  2. Keep track of what you are paying each month for medications.
  3. If you notice a change in pricing, do not be afraid to ask your pharmacist questions!
Bookmark and Share

Add comment

Recent Posts

Gather Food Repurposing Program  Recently, I had the opportunity to sit down with UNH Dining... Read more
Staying safe and having fun this summer  As more and more people are getting vaccinated and... Read more
The Power of a Growth Mindset   In 2006, Carol Dweck (an American Psychologist) discussed her... Read more