Over-the-counter medicinal options can save billions

posted by health insurance rates

The Consumer Healthcare Products Association recently released a study showing that the U.S. healthcare system saves a large sum of money due to over-the-counter medicinal alternatives.

The study, "The Value of OTC Medicine to the United States," showed that for every dollar used on OTC medicine, there is between $6 and $7 saved by the U.S. healthcare system. In total, this is an annual savings of $102 billion.

"When you consider that every dollar spent on an OTC medicine saves our system $6 to $7 in avoided cost, it is paramount that our policymakers do all they can to encourage consumer access to OTC medicines for self-treatable conditions," said Scott Melville, president and chief executive officer for CHPA.

The large number of OTCs sold saves Americans money as well, the source added. Close to $23 billion is saved by the American public by curbing visits to doctors or other healthcare professionals.

Consumers struggling to pay for their medicine may want to consider looking for a new, more affordable health insurance plan. Comparing health insurance rates may be able to achieve this.