In fiscal year (FY) 2017, Medicaid spent approximately $64.0 billion on outpatient prescription drugs and collected $34.9 billion in rebates, bringing net drug spending to $29.1 billion—or about 5.1 percent of total Medicaid benefit spending. This fact sheet lays out various trends in Medicaid prescription drug spending from FYs 2014 to 2017.
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Medicaid and CHIP Payment and Access Commission