Prescription Drug Prices: A Bitter Pill In The Midterm Elections | Forbes

All the campaign rhetoric leading up to Election Day 2018 next Tuesday is enough to give you a headache. Maybe that’s one reason why high prescription drug prices have become a major concern among older voters for the midterm elections.

“This is a pain point,” said Tim Lash, chief strategy officer of West Health Institute and president of West Health Policy Center. “We still have high prescription drug prices and we also have broken promises.”

Meanwhile, brand-name prescription drug prices have doubled between 2008 and 2016 and retail prices for many commonly-used brand name drugs by older adults soared an average of 8.4% in 2017, according to AARP. And AARP says the average retail price of a prescription drug for a chronic condition has reached $13,000 a year. Medicare drug spending — which accounts for 29% of the nation’s prescription drug spending — has grown by roughly 9.5% a year since 2009.

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Prescription Drug Prices: A Bitter Pill In The Midterm Elections.