A Kaiser Family Foundation report found that 82% of total retail prescription drug spending in 2017 came from private insurers, Medicare, or Medicaid.
Private health insurance constituted 42% of retail prescription drug spending in 2017, more than Medicare Part D and Medicaid combined, according to a Kaiser Family Foundation (KFF) study released Monday.
Retail prescription drug spending totalled $333 billion in 2017, with private insurers accounting for $140 billion, the report found.
Medicare Part D accounted for $101 billion, out-of-pocket totalled $47 billion, Medicaid accounted for $33 billion, and other payers contributed $13 billion.
The findings show that three major coverage areas continue to account for a significant portion of the growing retail prescription drug spending sphere.
Additionally, the top five drug products in terms of total spending accounted for at least 10% of overall prescription drug spending by each payer in 2016.
For private insurers, Humira led the way in total spending, accounting for $4.9 billion, followed by Enbrel at $2.4 billion, and Copaxone at $1.2 billion.
Harvoni led for both Medicare Part D and Medicaid at $4.4 billion and $2.2 billion, respectively.
Revlimid finished second for Medicare Part D at $2.6 billion, followed closely by Lantus Solostar at $2.5 billion. Humira was second among Medicaid spending at $1.3 billion, followed by Abilify at $1.1 billion.
The KFF study also indicated that average annual out-of-pocket prescription drug spending leveled out for both private health plans and Medicare Part D between 2007 and 2016.
Patients with private insurance spent an average of $365 out-of-pocket on prescription drugs in 2016, down from a peak of $427 in 2009, while Medicare Part D beneficiaries spent $132 in 2016, down from a peak of $164 in 2008.
Looking at total personal healthcare spending by consumers, retail prescription drug spending accounted for 13% by consumers under private health plans, as well as 15% for Medicare beneficiaries.
The KFF study explained that the rate of drug spending as a portion of personal healthcare spending for Medicaid beneficiaries was lower, 6%, due to Medicaid paying for "more expensive services" not covered by private insurers or Medicare.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.
Retail prescription drug spending totalled $333 billion in 2017, with private insurers accounting for $140 billion.
Meanwhile, Medicare Part D and Medicaid spending combined to total $134 billion.
Average annual out-of-pocket prescription drug spending leveled out for both private insurers and Medicare Part D between 2007 and 2016.