Final answer:
The statement is false as older adults tend to be larger consumers of prescription and OTC medications, highlighted by surveys showing significant usage among this demographic.
Step-by-step explanation:
The statement that older adults are the smallest consumers of prescription and OTC medications is false. In fact, older adults often require more healthcare services and typically use more prescription drugs than younger populations. According to a recent drug survey, there was an increase in the use of prescription medication among local senior citizens as compared to the national percentage. For example, a survey of 100 local seniors found that 65 of them reported taking prescription medication within the past month, while 60 of 100 national seniors reported using them.
The significance of Medicare prescription benefits, such as those established by the Medicare Prescription Drug and Modernization Act of 2003, highlights the importance of managing prescription costs for the elderly, who are frequently on multiple medications. Benefits from this program can save Social Security recipients approximately 15 percent to 25 percent annually, which implies that there is substantial usage of these medications among the elderly population.