Prescription drug spending in the United States isn't about to slow down anytime soon, reports the Kaiser Family Foundation in an issue brief on prescription drug trends.
The nation's prescription drug spending accounts for only 10% of total health care spending, but that figure is expected to jump to 12% by 2017.
The government reports that pharmaceutical spending reached $216.7 billion in 2006 and is projected to hit $515.7 billion in 2017, a 138% increase in 11 years. The spending growth will stem from the leveling off of generic drugs, increasing utilization rates and new medications hitting the market, states the issue brief.
On the health plan side, insurers are addressing rising expenditures on pharmaceuticals by prohibiting certain drugs from coverage, limiting supplies and increasing copays, according to the Kaiser's brief.
Seventy-five percent of workers with employer-sponsored coverage had a cost-sharing arrangement with three or four tiers of drugs in 2007, while only 27% had such an arrangement in 2000.
In addition, copays for nonpreferred drugs jumped 48% from an average of $29 in 2000 to $43 in 2007. Copays for preferred drugs increased by 67% from an average of $15 in 2000 to $25 in 2007.
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