Mood disorders (MD) affect more than 5% of the general population determining significant functional impairment in sufferers and often leading to adverse social outcomes. MD include both the unipolar and bipolar types. Major depressive disorder is the most common affective disorder being one of the leading causes of premature death and disability among all diseases and accounting for enormous health service utilization. Comorbid anxiety and depression frequently co-exist and are associated with higher costs considering both individual and social perspectives. Patients with MD often present in primary care settings and require health care resources. Case identification and correct assessment are, no doubt, crucial in clinical practice. MD raise complicated challenges, often leading to inadequate diagnosis and treatment resulting in unnecessary patient distress and increased utilization of health care services. Providing an effective assessment, correct evaluation, and evidence-based treatment may improve quality of life in patients with MD. We aimed to critically overview the current literature about MD, health effects, and social impact of these disabling conditions, © 2013 by Nova Science Publishers, Inc. All Rights Reserved.