The University of Michigan Health and Retirement Study (HRS) is a longitudinal panel study that surveys a representative sample of approximately 20,000 Americans over 50 years old. Core surveys take place every two years, with additional topics covered in off-year surveys. Data collected through a mix of phone and face-to-face interviews provides a comprehensive look at the changing experiences of older Americans on a range of topics including physical and mental health history and status, cognition, family structure, health care utilization and costs, financial status, and employment history and retirement plans. Interviews are supplemented with information from physical measurements, biomarker and genetic data, and linkages to administrative data.
Using the framework of the historical analysis presented to the Senate Subcommittee on Antitrust and Monopoly, drug prices relative to income in the United States are compared to other Organization for Economic Co-Operation and Development (OECD) countries to improve treatment access and affordability. Countries were selected based on drug price and income data availability and inclusion in the OECD. 40 drugs, 20 brand name and 20 generic, were selected based on revenue sales and prescription volume in 2018. Domestic pricing data included list price, measured by Average Wholesale Price (AWP), and retail price available on GoodRx.com. International drug price data was sourced from publicly available databases on individual country websites. The first analysis illustrates the percentage of household disposable income needed to cover a year supply of a select product. The second analysis illustrates country-specific difference in drug affordability. The last analysis examines the percent of resources an average family, about three persons, would spend on medication in the United Sates if they were a member of different income groups.