Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Long-Term Care Planning

Prescription Drug Spending Seen To Double In Five Years

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, June 11, 12:15 p.m. – Prescription drug spending will double in the next five years, led mainly by medications in two therapeutic categories, according to a recent report by Merck-Medco, a drug care provider based in Franklin Lakes, N.J.

According to the report, about 51% of the increase in spending is attributed to drugs in two therapeutic categories. The cardiovascular category, which include hypertension and cholesterol-lowering medications, will account for 28% of the increase, with lipid-lowering medications growing the fastest. The central nervous system, which includes psychiatric and neurological drugs and high-profile new medications for the treatment of pain and arthritis, will make up 23% of the increase.

The greatest increase in drug trend is not among senior citizens, the study says, but in the baby-boomer age group of 40-55, where greater awareness of pharmaceuticals for the treatment of conditions such as allergies, pain, gastrointestinal disorders and heart disease have prompted an early transition to long-term medications. The age group of 65-70 represents the lowest increase in drug trend with about half the rate of increase of the 40-55 age group. The 65-79 age group, however, posts the largest increase in the average cost per member for pharmaceutical care with almost $1,400 per year.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.