Rising Prescription Drug Price

Association for the Advancement of Retired Persons (AARP) , an
association for people to promote the welfare of senior citizens says in a
recent report that American consumers need to start stashing more money
away (especially for retirement) to pay for their prescription drugs.

Following a 7% jump in costs for brand name drug in 2003, prices rose a
further 7.1% in 2004. That is 2.5 times the rate of inflation. It was the fifth
straight year in which inflation in drug price outpaced the regular US
inflation rate.

The AARP survey interviewed Americans over 50 who used 195 different
types of prescription drugs, and found 185 of them rising faster than the
rate of inflation. As an example, for older patients taking three different
drugs, the increase in price has resulted in an additional annual medical
bill of $154.

Only good news, if any, is that prices for generic drugs remained flat in
2004 - but do not forget that it already had an ugly 13.3% jump in 2003.
You must feel lucky if you do not take any medication.