AARP Eye Center
The price of brand name prescription drugs has recently increased more than twice as much as inflation, according to an AARP report. Retail prices for 267 widely-used brand name drugs increased by 5.8 percent in 2018, compared to an inflation rate of 2.4 percent, the November report found.
One cancer drug, Revlimid, jumped in price from $147,000 to $247,000 a year between 2012 to 2017. More than 660,000 Massachusetts residents have been diagnosed with cancer.
Thirteen percent of Massachusetts adults aged 19 to 64 recently stopped taking medicine as prescribed because of cost, according to separate AARP research.
Many Commonwealth residents have contacted AARP Massachusetts to share stories of difficult choices and sacrifices to pay for prescribed medication. Some have rationed or skip medications. We captured some of their stories in the video above.
Stopping Rx Greed
AARP has launched a nationwide campaign to lower prescription drug prices, called Stop Rx Greed. The goal: drive down drug prices for Commonwealth residents and all Americans by advocating for a variety of legislative, executive, and regulatory actions at both the federal and state levels, including:
· Allowing Medicare to negotiate for lower prescription drug prices.
· Allowing states to negotiate lower prices with drug companies.
· Giving state Attorneys General authority to crack down on outrageous price increases.
· Clamping down on pay-for-delay and other loopholes that keep lower cost generic drugs off the market.
· Capping consumers’ prescription drug out-of-pocket costs.
· Preserving state pharmacy assistance programs.
Last year, AARP surveyed likely voters age 50 and older about their experiences with prescription medication and their thoughts on proposals for reducing prescription drug costs. The survey found that significant majorities of Republican, Democrat, and independent voters share concerns about the high price of drugs and support common-sense policies to lower prices.
Survey findings include:
· 72 percent say they are concerned about the cost of their medications.
· 63 percent say the cost of prescription drugs is unreasonable.
· 90 percent support allowing Medicare to negotiate for lower drug prices.
· 80 percent report taking at least one prescription medication.
· Nearly 40 percent say they did not fill a prescription provided by their doctor with cost being the most common reason.
For more information or to get involved, visit the StopRxGreed.