In a survey of 1,000 senior citizens, MedicarePlans.com determined that 40 percent of seniors say inflation is making it more difficult for them to afford their medications.
So much so that one in five seniors skip their medications to save on the costs associated.
According to the survey, 73 percent of Republicans and 21 percent of Democrats do not believe the current administration can fairly negotiate drug prices. Ninety-one percent of survey respondents support efforts to regulate prescription drug costs.
Despite health insurance coverage, one in eight respondents say that they end up paying 50 percent or more of the cost of their prescriptions. Twenty percent said they have reduced spending on leisure activities to afford prescriptions, 15 percent use money from savings and 13 percent have reduced spending on food.
Write-it responses to the survey included use of credit cards, borrowing money and skipping doses to offset the cost of prescriptions.
The survey was conducted online with platform Pollfish on July 1, 2022.
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Rebecca Barnabi
