Prescription Drug Costs Continue to Vex Midlife and Older Adults

Most midlife and older adults take prescription drugs and continue to be concerned about affording them.

Most (82 percent) adults 50 and older report taking prescription medication regularly, with the majority (81 percent) reporting that they did not skip filling a prescription due to cost. Yet, roughly six in ten (59 percent) say they are concerned about their ability to afford prescription drugs in the next few years.

When it comes to political affiliation, however, Democrats and Independents are more likely to say they are concerned that they may not be able to afford the cost of prescription medications they or a family member may need in the next few years (62 percent of Democrats and 68 percent of Independents vs. 53 percent of Republicans register concern).

They are also more likely to say they are extremely or very concerned that the high cost of prescription drugs could negatively impact their health or the health of someone in their household (32 percent of Democrats and 42 percent of Independents vs. 24 percent of Republicans).

Nearly all would like to see governmental action to address prescription drug costs, with limited variation by political affiliation.

Nearly all adults (96 percent) 50 and older believe it is important for the government to do more to lower prescription drug prices. Similarly, nearly all (94 percent) consider it important for the newly elected Congress and incoming Trump administration to prioritize lowering prescription drug costs.

Democrats are more likely than both Republicans and Independents to say it is extremely important (63 percent vs. 28 percent of Republicans and 44 percent of Independents). Notably, Republicans also consider it important for the government to do more to lower prescription drug prices, albeit with a lower stated intensity than their counterparts — they are more likely than Democrats to say it is very (42 percent vs. 30 percent) or somewhat important (24 percent vs. 6 percent) to do so.

Similarly, when considering the importance of lowering prescription drug prices by the new Congress and the Trump administration, Democrats are more likely than both Republicans and Independents to say it is extremely important (59 percent vs. 24 percent of Republicans and 45 percent of Independents). Republicans again show a lower stated intensity than their counterparts, with roughly four in ten (39 percent) Republicans saying that it is very important compared to one-quarter of Independents (25 percent) and three in ten (29 percent) Democrats who say so.

When asked to select their top priority (among three) for Congress to address in the next year, nearly half (46 percent) of U.S. adults 50 and older say they would like Congress to address lowering prescription drug prices in the next year, while an identical percentage (46 percent) would prefer it focus on funding the federal government for the full year. Notably, there are no significant differences by political affiliation.

Protecting Medicare’s ability to negotiate for lower prescription drug prices is also considered vital, again with limited variation by political affiliation.

U.S. adults 50 and older overwhelmingly believe (97 percent) it is important for Congress and the administration to protect Medicare’s ability to negotiate for lower prescription drug prices. As with the other questions about governmental action, Democrats are more likely than both Independents and Republicans to say it is extremely important to protect Medicare’s ability to negotiate for lower prescription drug prices (70 percent of Democrats vs. 48 percent of Independents and 37 percent of Republicans). Republicans are more likely than either Independents or Democrats to say that it is very important (42 percent vs. 22 percent and 24 percent).

Methodology

These findings are based on a survey conducted in December 2024 to learn more about the views of midlife and older adults on the costs of prescription drugs and what they would like Congress and the incoming Trump administration to do to address them. The sample of 1,016 Americans 50 and older was based on data weighted to the latest Current Population Survey (CPS) benchmarks developed by the U.S. Census Bureau and are balanced by gender, age, education, race/ethnicity, and region. The final weighted data reflect the U.S. population of adults 50 and over.

The study was conducted using the NORC Foresight 50+ Panel among a sample of U.S. adults 50 and older using a combination of phone and online sampling. The survey interviews averaged six minutes in length. The interviews were conducted in English December 12–16, 2024.

For more information, please contact Teresa A. Keenan at tkeenan@aarp.org. For media inquiries, please contact External Relations at media@aarp.org.