Health Insurance Paying for Record Psychiatric Meds

Twenty percent of American adults are now taking some kind of psychiatric medication, according to The Wall Street Journal article "One In Five American Adults Takes Psychiatric Drugs," published on the Fox News website. This is big business for pharmaceutical companies and something that health insurance companies must pay close attention to. Antidepressants, anti-anxiety drugs, and anti-psychotics are the most commonly prescribed to adults.

Between 2001 and 2010, the number of adult Americans using psychiatric medications increased by 22%. A steep increase in the number of adults using medication for ADHD, more commonly associated with children, helped the overall increase. Very powerful anti-psychotic drugs are also being prescribed in much higher numbers in the past decade. There were a few declines in use of the drugs; children are being prescribed fewer antidepressants and anti-anxiety medication is being used less for the elderly.

Just last year, Americans spent almost $35 billion on anti-psychotic drugs, antidepressants, and ADHD medications. Insurers fork over a ton of money for these drugs, so plans have very specific details on coverage and requirements. People who are lacking quality health insurance have to worry about paying for these medications on their own or finding some government assistance. That may change, depending on what happens with President Obama's health care reform act set to take effect in 2014.