AARP: Voters worry about drug prices, affordability

Manufacturers’ prices for nearly 200 of the most commonly used brand-name medications for older adults rose an average of 6.3 percent for the 12-month period ending in June, according to AARP’s latest Watchdog, which monitors drug prices quarterly.

Price increases for brand-name drugs continue to outpace the annual rate of inflation – 3.8 percent for the same 12-month period – and on average, manufacturers of 75 generic drugs widely used by people older than 50 raised prices just 0.4 percent, according to the AARP data. The data was released Sept. 19, along with the results of an AARP poll that examined concerns among voters ages 42 and older.

“Frustration over this issue will lead to action,” said David Sloane, AARP senior managing director of government relations, in a news release.

Sloane cited the recent election “pulse poll,” in which voters 42 and older – who are most likely to cast ballots in November – cited prescription drug affordability as a major concern.

“Although millions in Medicare are now saving with the help of their Medicare drug plans, those in the coverage gap are paying on their own and know how expensive their medications have become,” Sloane said.

He added that nearly 7 million Americans between the ages of 50 and 64 have no health insurance, are paying for their medication entirely by themselves and need help.

At the top among the drugs with the highest year-to-date price increases was Aventis’ Ambien 5 mg, which had a 13.3 percent increase.

Aventis led brand-name manufacturers in average six-month price increases, charging 7.7 percent more for medications that were part of the study sample. On the low end, manufacturers Monarch and Takeda posted no price increases, and Lilly showed an increase of 2.5 percent.

AARP believes that medication price relief for patients of all ages could result from making the importation of prescription drugs both safe and legal. To that end, AARP supports S. 334, a bill introduced by Sens. Bryan Dorgan, D-N.D. and Olympia Snowe, R-Mass.

“We have our best opportunity to put a dent in rising prescription drug costs,” Sloane said.

“The Dorgan-Snowe bill that would allow safe and legal importation of medications has widespread bipartisan support,” he added.[[In-content Ad]]