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WASHINGTON—Retail prices for 267 brand-name drugs commonly used by older adults surged by an average of 5.8% in 2018, more than twice the general inflation rate of 2.4%, according to new AARP Public Policy Institute (PPI) data released today. The annual average cost of therapy for one brand-name drug ballooned to more than $7,200 in 2018, up from nearly $1,900 in 2006.
Prescription pills with money
Have you had to ration your meds or go without because of the cost?
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CHICAGO—AARP today released new data and an infographic illustrating the impact of high prescription drug prices on Americans, specifically people living with cancer, prediabetes or diabetes, and heart disease. AARP unveiled the infographic at the National Academy for State Health Policy (NASHP) annual conference as part of AARP’s nationwide Stop Rx Greed campaign to lower drug prices.
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In 2016, a federal regulation was promulgated which required that any professional making a recommendation or solicitation regarding investments act in the best interests of their clients and put their clients' interests above their own. This policy protected consumers from receiving advice from financial experts that would benefit the advisor based on fees and commissions collected. After receiving pushback from the financial industry, the jurisdictional agencies began reexamining the policy.
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