The cost of prescription drugs has been going up for senior citizens. “A new report from the AARP Public Policy Institute found that retail prices for prescription drugs widely used by older Americans increased more than the general inflation rate every year from 2006 to 2013, the most recent year covered in the report.” The upward trend in prescription drug prices has been putting a lot of pressure on the budgets of retirees. People who are planning for retirement should factor expected rises in prescription drug prices into their estate planning. It is a good idea for consumers to speak with their doctors or pharmacists about alternative more affordable brands of the medications they need. Careful research and planning will help people navigate through these difficult trends in pharmaceutical prices.
See Rita Rubin, Drug Prices for Older Adults Soaring, Report Says, Next Avenue, March 2, 2016.
