Paying more for less is a recurring theme for Americans these past few years, and it’s even true in health care, a new study shows.
Health insurers are covering fewer drugs, putting more restrictions on their drug coverage, but still raising costs for consumers, prescription drug comparison site GoodRx found after reviewing more than 3,700 Medicare Part D plans from 2010 to 2024.
At a time when Americans are already squeezed by inflation that’s soared over the past few years, the cost of staying healthy is becoming more prohibitive. The Centers for Disease Control and Prevention said 9.2 million adults reported not taking medications as prescribed due to cost, employing such strategies as skipping doses, taking less than the prescribed dose, or delaying filling a prescription.
“The high cost of medications can force people to make difficult choices between prioritizing their health and managing other essential expenses,” said Tori Marsh, GoodRx research director.
How are insurance companies increasing costs for Americans?
Insurers are doing a few things that are making medications more expensive for Americans, Marsh said, including:
- Covering 19% fewer medications. In 2010, the average plan covered 73% of prescribed drugs. In 2024, the average plan covered just 54% of prescribed drugs and 25% of Americans have at least one prescription not covered by insurance, leaving consumers to have to pay for the full cost of their medication.
- Restricting more covered drugs. The…
