A Policy Prescription for Reducing Health Disparities—Achieving Pharmacoequity

In 2019, the US spent $3.8 trillion on health care, including an estimated $370 billion on retail prescription drugs alone.¹ On average, individuals in the US spend more than $1100 per capita annually out of pocket on health care,² but this spending is inequitably distributed. Specifically, racial and ethnic minority populations, who disproportionately experience higher prevalence and greater severity of chronic diseases, are more likely to not have sufficient insurance or lack insurance completely. As a result, Black individuals and Hispanic individuals often report the highest rates of cost-related delays in care and lower access to high-quality medication therapy.³