News and Opinion: August 12, 2022. Americans Spend More on Medications than Other Countries

In 2019, according to this article, people in the United States spent US$ 1376 (PPP) per year per capita. In the OECD, the country that spent less Costa Rica with less than US$ 300 (PPP).

This cost adds up prescription and non prescription medications. In the US, insurance covers for 70%, while it is at 3% in Costa Rica. The high percent of insurance coverage may, in part explain the large cost amount in the United States. The reason is that insurance companies negotiate the prices with pharmaceutical companies.

This is the source of the graph

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.