A new study released by the AARP Public Policy Institute reported that the cost for a year's supply of many prescription drugs has surpassed $11,000!
If you are not astonished by this fact let's put it into perspective. It is about 75% of the average annual Social Security retirement benefit of someone on medicare.
This figure was for some of the most commonly used drugs. The average cost for specialty drugs, such as for cancer and hepatitis, have increased the most. For example, he average cost for specialty drugs was $53,384 in 2013. This was 18 times more than for a brand name drug and 189 times higher than for a generic drug.
AARP representatives stated that if this trend continues more Americans will simply be unable to afford the medications that they need to live and to stay healthy.