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Seniors are saving money on prescriptions, HHS secretary says

By Sophie Hawthorne
Published in Financial Planning
March 21, 2023
1 min read
Seniors are saving money on prescriptions, HHS secretary says

As the cost of prescription drugs continues to rise, many seniors have been struggling to afford their medications. But according to the U.S. Department of Health and Human Services (HHS) Secretary, Alex Azar, there is some good news: seniors are starting to save money on their prescriptions.

One reason for this is the Medicare Part D program, which provides prescription drug coverage for seniors. Azar reports that more than 96% of seniors have access to a Medicare Part D plan, and that the average premium for these plans has decreased over the past few years.

In addition, Azar noted that the Trump administration has taken steps to bring down drug prices overall. For example, the FDA has approved a record number of generic drugs, which are typically much cheaper than their brand-name counterparts. The administration has also proposed changes to the Medicare Part B program, which could result in savings for both seniors and the federal government.

What caught our attention about this article is the fact that seniors are finally starting to see some relief when it comes to the high cost of prescription drugs. As the population ages and more people become eligible for Medicare, this issue is only going to become more pressing. It’s good to see that steps are being taken to address it.

We can understand the importance of accessible healthcare for seniors, and the impact that skyrocketing drug prices can have on their quality of life. It’s crucial that we continue to find ways to make healthcare more affordable for everyone, especially those who need it most.

To sum up, seniors are starting to see some relief when it comes to the high cost of prescription drugs, thanks in part to programs like Medicare Part D and the approval of more generic drugs. While there is still work to be done, these developments offer hope for seniors who may be struggling to afford their medications.


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Sophie Hawthorne

Sophie Hawthorne

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