How does universal, free prescription drug coverage affect older adults’ finances and behaviors?
In 2016, Poland introduced a nationwide policy eliminating all out-of-pocket costs for prescription drugs prescribed by healthcare professionals to individuals aged 75 and older. A new study published in Health Economics finds that the policy reduced average out-of-pocket medication spending by 23% and cut catastrophic drug expenses by 62%, indicating substantial financial protection during major health shocks.
The financial gains, however, were not evenly distributed. The evidence suggests that higher-income and urban households benefited more, pointing to the ...