Drug companies are continuing to raise prices with no accountability, causing the price of health care to increase for all.
Higher Drug Prices = Higher Premium Costs
Prescription drugs are the second highest expense incurred by California’s health plans, but drug companies continue to raise prices – with no accountability. With bills continuing to be introduced at the Capitol that will do nothing to reign in high cost prescription drugs, prices will continue to increase, directly effecting health care and premium costs for employers, individuals, and families.
In Just One Year
Increased prescription drug costs led to a 5.3% increase in health plan premiums between 2018 and 2019.
More expensive specialty drugs accounted for just 1.5% of all prescriptions but made up 56.1% of health plan drug spending.
Health plan spending on prescription drugs increased by $600 million from 2018 to 2019.