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The U.S. Centers for Disease Control and Prevention’s (CDC) National Health Interview Survey found that 8.2% of Americans aged 18-64 skipped, delayed, or reduced the amount of their prescription medication in 2021 due to cost.
Out-of-pocket costs on retail drugs rose 4.8% to $63 billion in 2021. High costs may limit many peoples’ ability to take their medication as prescribed, which may result in more serious illness or require additional treatment.
Americans are cutting back on prescribed medications due to financial reasons. This behavior is expected to continue as the economic pressures continue to strain Americans’ finances. Some common strategies for reducing prescription costs include choosing generic drug versions, comparing prices, and using a preferred pharmacy.
Employers should continue to monitor health care trends, utilization, and spending. Download the bulletin for more details.