US Drug Prices Continue to Soar

Countless individuals across the country have to take some form of prescription drug or another. Whether it be to deal with the pain from a car accident or because they are battling cancer, prescription drug use is more prevalent than what you might think. Even though some are fortunate to have health insurance to cover part of the cost of their prescriptions, it doesn’t always cover everything. Then, there are those individuals without insurance who are stuck trying to pay for everything out of their own pockets.

With prescription drug costs getting higher and higher, it makes it hard for people to be able to afford the things they need just to be able to survive. Even though alcohol and food are only up 3 percent, the cost of clothing and accessories rose by 6 percent and prescription drugs went up 10 percent in one year alone. If the rates continue to increase like this, how is someone supposed to be able to afford the cost of their prescriptions?

Unfortunately, for those who use prescription drugs on a regular basis, this isn’t the first time something like this has happened. In fact, prescription drug costs have gone up for the past three years by about 10 percent, if not more. Because of all the pharmaceutical companies raising the cost of prescriptions, it has generated more than $2B in revenue.

According to Consumer Reports, the surging prices over name brand and generic drugs hails from a battle between the insurance companies and the big pharmaceutical companies. Unfortunately, the consumer is the one who gets caught in the middle of this nasty battle. This leaves consumers stuck trying to figure out how to afford the cost of their prescriptions.

The worst part about the whole thing is that the majority of medications that saw a price increase are those that consumers cannot do without. Because they are a part of their everyday life, the consumer has no other option than to try and deal with the high cost of the prescription and figure out what they can do to make ends meet elsewhere. If the prescription is something you need to help improve your quality of life, there is little that can be done.

According to US Senator Bernie Sanders, he wrote that a lifesaving product isn’t going to do anyone any good if they cannot afford to buy the medicine. He went on to say that this is happening far more often than it should when you are dealing with the richest nation in the entire world. His statements ring true for so many individuals being put into these tough situations. If a prescription could end up saving your life, shouldn’t it be made available at a cost that you can afford? It isn’t fair to tease someone with the possibility of a cure only to rip it away from them because they aren’t able to afford the bill.

Even though lawmakers and lobbyists are still fighting to get prescription costs down, many companies are continuing to raise their prices to continue driving growth and propelling their business forward. As much as these companies want to increase their bottom line, they need to stop and think more about the consumer and less about their profit margin. Do they really need to make $2B more per year? In all reality, the cost of prescription drugs doesn’t need to be as high as it is right now. The only hope is that with enough fighting lawmakers will be able to do something about it and help consumers start saving money on the cost of their medication.