A new study found West Virginia residents rank No. 5 in the country, spending $1,980.57 per-capita annually on prescription drugs.
The cost of prescription drugs is a growing problem, especially for seniors. Nearly half of Americans take at least one prescription medication, but that number jumps to 90% for seniors.
TheSeniorList today released a study on Which States’ Residents Spend The Most On Prescriptions.
The study analyzed the most recent data from the Kaiser Family Foundation, GoodRx and the National Conference on State Legislatures.
In total, West Virginia residents spend a combined $3,596,423,668 annually. Texans spend the most in total with a combined $42,654,887,062 spent annually.
Americans spend more for healthcare than citizens of other industrialized countries. We don’t live as long as people in other wealthy nations, and at about 60 percent of adult Americans have a chronic health condition.
The increasing prevalence of chronic health conditions, which includes things like heart disease, cancer and diabetes, is a major strain on the healthcare system and the economy. But it also has a corollary effect that a majority of us can relate to — the expense and hassle of dealing with prescription drugs.
Nearly half of Americans take at least one prescription medication, and that number is even higher for older Americans with upwards of 90 percent of those 65 and older taking at least one prescription drug.
Americans spend more on prescription drugs than citizens of other similarly wealthy countries, and it’s expected that costs will only continue to rise in the future. Prescription drug spending stands at more than $450 billion per year and is rising faster than spending in other areas of healthcare.
Healthcare continues to be hotly debated among politicians, with many of the 2020 Democratic presidential candidates pledging support for a single-payer system, such as Medicare for All. But the truth is that for now, all Americans have to contend with rising costs, particularly when it comes to potentially life-saving medications.
Some Americans, depending on where they live, do benefit from controls that legislators in their states have put in place that help curb prescription costs, but almost half of states do little to nothing to control costs.
Per-capita spending on prescription drugs has surged by more than 1,000 percent since 1960, according to a Kaiser Family Foundation analysis. That number stands at an inflation-adjusted $1,025 per year today.
The study revealed the following national findings:
1,000%: Increase in inflation-adjusted per-capita spending on prescription drugs since 1960.
125%: Amount Delaware residents pay more than Californians per-capita. (First and last on list)
$52,232: The most-costly drug per month is Actimmune $52,232 which treats Osteopetrosis.
U.S. Pays More Than Other Countries: Humira is one of many examples in the study. The drug costs $2,669 in the U.S., $1,362 in the U.K. and $822 in Switzerland.
As our country ages, we must lower the cost of prescription drugs, especially for seniors who may need multiple prescriptions while on a fixed income.