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Average annual prescription drug costs and sources of payment among noninstitutionalized Medicare enrollees age 65 and over, 1992-2004

Federal Interagency Forum on Aging-Related Statistics. Older Americans 2008: Key Indicators of Well-Being. Washington, D.C.: U.S. Government Printing Office; 2008. http://agingstats.gov/agingstatsdotnet/Main_Site/Data/2008_Documents/OA_2008.pdf

Reference

Title
Older Americans 2008: Key Indicators of Well-Being
Publisher
U.S. Government Printing Office
Publication Date
2008
Authors
Federal Interagency Forum on Aging-Related Statistics
URL
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Categories

  • Cost of Disease
  • Economic Burden

Related Facts

  • In 2004, around 8% of older Americans incurred $2,500 or more in prescription drug costs.  
  • Growth in hospital spending is expected to increase from 7% (2006) to 7.5% in 2007–partially because of higher Medicaid payment rates.  
  • Seniors with Chronic Conditions Rarely Have a Single Condition  
  • More than half of Americans suffer from one or more chronic diseases.  
  • In 2004, approximately 8% of those 65 and older incurred no prescription drug costs, but close to 24% incurred $2,500 or more that year.