While the association between psoriasis and depression is well-established, studies investigating the impact of depression on health care expenditures are limited to adult psoriasis patients with commercial insurance or Medicare. We hypothesize that psoriatic patients with depression have higher health care expenditures than psoriatic patients without depression. This retrospective cross-sectional study pooled data from the Medical Expenditure Panel Survey (MEPS), a nationally representative sample of the non-institutionalized United States population, from 2007 to 2015. Patients with one or more psoriasis conditions were identified by a 3-digit ICD code (696). Demographics and health care expenditures were compared between psoriatic patients with and without comorbid depression using Rao-Scott χ2 and design-based Kruskal Wallis, respectively, using a weighted-subject, stratified design. A total of 1,053 unweighted psoriatic patients were identified from 2007 to 2015, of whom 259 had depression (24.6%). This amounted to 1,479,018 yearly weighted psoriatic patients (95% CI 1,321,254-1,636,781), of whom 365,091 had depression (24.7%, 95% CI 294,040-436,143). Compared to psoriatic patients without comorbid depression, psoriatic patients with depression were more likely to be female (p<0.001), with poor/fair perceived health status (p<0.001), covered by Medicaid/Medicare (p=0.013), divorced/separated/widowed (p=0.008), <100% of federal poverty level (p=0.013) or 200-399% of federal poverty level (p=0.013), and have a Charlson comorbidity index > 0 (p=0.019). Median yearly total health care expenditures of psoriatic patients with depression ($6,707, 95% CI $5,164-$8,249) was significantly higher than psoriatic patients without depression ($3,184, 95% CI $2,778-$3,591; p<0.001). As comorbid depression in adults with psoriasis is associated with higher health care expenditures, identification and management of depression in psoriasis-related visits may improve treatment and reduce cost.