The California Department of Insurance issued its Prescription Drug Cost Transparency Report on December 31, 2018. The report covers the 2017 calendar year.
The full report can be found here.
Some notable findings per the CDI include:
- These CDI regulated health insurers and their policyholders spent more than $1.2 billion on prescription drugs in 2017.
- Generic drugs comprise 84 percent of prescriptions and 21 percent of spending, while specialty drugs comprised only 3 percent of prescriptions, but 52 percent of spending.
- The cost of prescription drugs (after considering rebates) is 13.4 percent of premiums.
- The 25 most costly specialty drugs alone accounted for more than a quarter of the total annual spend for all drugs.
The CDI's press release can be found here.
For questions, please contact a member of your B&P Sales Team - 888.722.3373.