Millions of retired Americans are leaving money on thetable by failing to talk with their doctors about the possibilityof switching to cheaper generic medicines,researchers at Medco said.
In a new study raising concerns that many retirees neglectedto consider the cost of prescription drugs andother types of health care when planning their retirement,the researchers said these expenses have come asa shock to many seniors.
Among middle-income retirees, for example, the cost ofprescription drugs alone consumes an average of 10% ofeach retiree's monthly income, they found.
But even when feeling the pinch, the study suggeststhat too many seniors fail to take action to stretch theirprescription drug budgets.
"Nearly half of retirees stated they infrequently ornever discuss with their doctors ways to save money ontheir medications," even though "research has shownthat doctors are likely to prescribe generic drugs whenasked by patients," the researchers said.