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Rising deductibles paired with the rising cost of medications for chronic conditions has left middle-income Americans saddled with debt and skipping out on their treatment, the L.A. Times reports.

Why it matters: Care for conditions like cancer, diabetes and epilepsy— which require regular treatment, including drugs— are costing the insured thousands of dollars a year, a major shift from when deductibles were lower or nonexistent.

  • "That has made being sick in the U.S. dramatically more expensive," the Time's Noam Levey writes.

For example: One recent study found that in 2016, people taking multiple sclerosis drugs paid, on average, $3,708 in out-of-pocket costs for the drugs each year. The cost for patients with high deductible plans was, on average, almost $8,000 a year.

  • But 15 years ago, the average out-of-pocket cost for these drugs was $244.

The bottom line: When patients ration their own care to try to save money, it puts their health — and even their lives — at risk.

Go deeper: How chronic conditions drive up health spending

Go deeper

Updated 27 mins ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 43 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.

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