Prescription Drug Costs Soar, Doubling in 7 Years

Thanks to drug manufacturer price hikes, the average cost for a year’s supply of a prescription drug has jumped to more than $11,000, or about 75 percent of the average annual Social Security retirement benefit and half the median income of someone on Medicare. This latest bad news for older patients’ pocketbooks come from a new AARP Public Policy Institute report, which shows retail prices for widely used medications increased at six times the rate of general inflation in 2013. …

Family Caregiving Worth $470 Billion a Year, AARP Finds

The economic value of the nation’s family caregivers’ unpaid work is an estimated $470 billion a year — an amount about equal to the annual sales of Wal-Mart, the world’s largest company. That’s the top finding from the AARP Public Policy Institute’s new report, “Valuing the Invaluable: 2015 Update.” The survey found that an estimated 40 million U.S. caregivers devote about 37 billion hours to assisting adult relatives or close friends. Get the support you need to care — AARP Caregiving Resource Center » …