As prescription drug costs continue to increase, it is important for employers to understand the trends behind prescription drug costs and what they can do to better manage their health care expenses.
In 2019, the United States was projected to spend over $500 billion on prescription drugs, by some estimates—12 times more than the $40.3 billion spent in 1990. Although prescription drug spending has historically been a small proportion of national health care spending compared to hospital and physician services, it has grown rapidly in recent years.