In a recent Consumer Reports article, the magazine reports that 30% of those taking a prescription drug reported a price increase in 2019.
Why is this happening? A variety of factors, but here are a few:
- There are currently no federal regulations that limit drug prices or price increases.
- Middlemen continue to play a role in selling drugs. The more layers of profit between consumers and drug companies, the more money needs to be generated from consumer sales.
- Coverage reductions are also playing a part. With Employers looking to save money everywhere they can, prescription drug plans are often changed from year to year.