The Organization for Economic Development reports that Americans pay more for prescription drugs than people in other wealthy countries. The average American in 2022 spends $1,807, compared to $1,032 in Germany, $921 in Britain, and $904 in Sweden. These are exclusively insured payments. Drug pricing hurts older adults and others. Overpriced drugs can be disastrous for the millions of older Americans without health insurance.
Younger generations don’t need as many medicines as older adults. Over 10,000 Baby Boomers turn 65 daily, increasing the number of Americans on fixed incomes facing exorbitant prescription prices and insurance deductibles. Forcing many to choose between quality food or medication. Both shorten an individual’s lifespan.
The pharma industry claims subsidized programs exist for such folks, but it merely highlights the lunacy of the system. The mere fact that a discount program is even needed for individuals to receive the medication they NEED.
Reverse mortgages have the potential to save lives. Do you know a retiree struggling to make ends meet and still living in their own home? A program provides enough income to cover basic needs and medication, which can be a lifesaver and ensure that they can comfortably age in place.