A new AARP study showing retail prescription prices have increased six times faster than the general inflation rate since 2006 underscores the possibility that the Government Accountability Office may be seriously underestimating how much health care is costing retirees.
The AARP study also found that the average annual cost of therapy for one prescription drug totals more than $11,000, which equals a whopping 75 percent of the average annual social security benefit.
A commentary from retirement health care cost modeling provider HealthView said that, in addition to underestimating how much retirees pay for health care premiums, the GAO study failed to take into account health care inflation — and the AARP study certainly appears to back that up.
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