According to the Bureau of Labor Statistics, more Americans than ever are working past the traditional retirement age of 65. In 2012, 18.5 percent of workers age 65 and older were still gainfully employed, compared with just 10.8 percent in 1985. That proportion is expected to increase as the largest generation in the history of the nation–the Baby Boomers–approach retirement age in the near future. Why are they working longer?
There are many reasons. But the primary driver is the rapid rise in health care costs. Numerous studies have found that the price of drugs that are most often used by seniors have skyrocketed in recent years. Many of these medications are needed to treat chronic conditions and are literally lifesavers. As a result, most healthy seniors are putting off retirement to make certain they have enough money to afford them.
Health care costs represent a variable or great unknown for seniors in America. The costs are rising so rapidly that it is almost impossible to create a retirement budget or plan that will cover them. A large number of working seniors also have a sick person at home that they must care for, often a close relative or a spouse. Many of these infirmed individuals suffer from chronic conditions, such as heart disease, diabetes, or dementia. Unfortunately, these are often the most expensive illnesses to treat, since they require regular tests, checkups, and medications.
More than one-third, about 110 million Americans suffer from at least one chronic disease, and many of them are elderly. Treating these conditions can eat up retirement savings in no time and leave loved ones with substandard care. In fact, some sick seniors are forced to go without lifesaving medications because they are simply too expensive.
Most Americans mistakenly assume the Medicare will cover the bulk of their medical costs. But that may not be the case, especially as they age. One recent study found the out-of-pocket expenses rise each year for retired individuals. Octogenarians and nonagenarians routinely pay 30 percent or more of their incomes in out-of-pocket Medicare costs.
Is there a more affordable option?
When you add health care costs, the number of older Americans that live in poverty jumps from 3.5 to 6.2 million. That’s how expensive it is to take care of yourself as you age in the United States. Online drugstores offer consistently lower prices than their real-world competitors, but the buyer should beware.
Thousands of rouge sites pose as legitimate online drugstores and sell expired, fake, or unsafe medications on the internet. Many of them are fronts and their true objective is to capture your credit card information and use it as they please. With that said, there are many reputable drugstores that sell medications, cold and flu remedies, and online first aid kit supplies. Finding a reliable online drugstore requires research. No matter what you need to order, make certain the site has been around for more than a few months. Positive reviews and testimonials should be relatively easy to find. If not, the online drugstore might be a fly-by-night outfit.
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