April 2012
The latest Rx Price Watch Report from AARP’s Public Policy Institute found that retail prices for prescription drugs have been rising at nearly double the rate of inflation. The report examined prices on the 514 drugs most cornmonly used by Medicare beneficiaries and found that the average price increase on these drugs was nearly 5.0 percent in 2009. Their research showed prices rose 25.6 percent between 2005 and 2009, which means someone taking one of those drugs would have seen their annual expense increase from $2,160 to $3,168 during that period of time. Cheryl Matheis, AARP Senior Vice President for Policy Strategy, said the relentless price increases have serious implications for the people who rely on these drugs.
