Prescription drug costs: Prescription drug costs can be a significant financial burden for seniors, especially those with chronic health conditions that require long-term medication. If people cannot afford multiple prescriptions, they may choose not to fill all of their medications, skip doses, or split pills to make them last longer. This can lead to non-adherence to medication, which can cause other serious health consequences.
Not taking medications as prescribed can lead to compromised health outcomes. For example, if a senior with diabetes cannot afford their insulin, their blood sugar levels may become uncontrolled, leading to complications such as nerve damage, kidney disease, and blindness. The domino effect of this financial burden is a reduction in their quality of life, such as increased pain or discomfort, reduced mobility, and decreased ability to perform daily activities. Then, they may experience worsening health conditions that require hospitalization. The increased risk hospitalization can be costly and can further impact seniors’ financial resources.
Long-term care costs: Seniors may also need long-term care services, such as nursing homes or home healthcare, which can be costly. The cost of long-term care can influence their healthcare decisions and force them to make difficult choices about their living arrangements.