facebook
twitter
search
search

Drug prices triple inflation rate

July 10, 2003 at 8:22 AM

NEW YORK, July 10 (UPI) -- A Families USA study shows prices for the 50 drugs most prescribed for the elderly rose last year at more than three times the rate of inflation.

As Congress seeks a compromise on House and Senate Medicare legislation, the study by the consumer group shows "how important it is to offer significant subsidies to the lowest-income seniors," Ron Pollack, the group's executive director, told the New York Times.

As many as half the elderly do not have insurance for drugs for some part of the year, he said, because they either lack coverage or have exceeded the limits on their policies.

Prices for the 50 drugs increased an average of 6 percent, compared with a rise of 1.8 percent in the Consumer Price Index, excluding energy prices, the study said. More than half the drugs increased by three or more times the inflation rate while a quarter stayed the same.

Like Us on Facebook for more stories from UPI.com  
Topics: Ron Pollack
Latest Headlines
Top Stories
Oklahoma Supreme Court denies rehearing, again orders removal of Ten Commandments statue
Plane crash kills four in Wisconsin
North Korea is 'source country' for forced labor, sex trafficking, says report
FDA bans import of some cilantro from Mexico due to feces contamination
29-year-old convict to be released from prison after 18 years