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$100,000 Annual Prescription Costs On the Rise

$100,000 Annual Prescription Costs On the RiseMay 15th, 2015 – It’s not uncommon for routine prescription drug costs to startle us when making a trip to the pharmacy, but for some Coloradans the high cost of prescription drugs is at an almost unimaginable level.

According to a report from NBC news, over 500,000 American used over $50,000 worth of prescription medications in 2014. Shockingly, 139,000 Americans medications cost over $100,000 last year, which is triple the population in the previous study.

Most had serious health conditions like cancer or hepatitis or were taking made-to-order compounded drug therapies.  Over 60% were taking 10 or more prescriptions, often for multiple medical conditions.

While the numbers may seem outrageous, when your or a loved one’s life is at stake these drugs are vital.  As an example, the melanoma drug Yervoy helps patients with terminal melanoma stay alive for a year or longer.  Yervoy costs $120,000 for a course of treatment.

While insurance plans covered over 98 percent of the costs for patients whose drugs cost $100,000 or more in 2014, these expensive drugs contribute to driving up health insurance premiums across the board.

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