HEALTH CARE LAW SAVES $3.9 BILLION ON PRESCRIPTION DRUGS FOR PEOPLE WITH MEDICARE
IN 2012 ALONE, OVER ONE MILLION WITH MEDICARE HAVE SAVED AN AVERAGE OF $629
As a result of the Affordable Care Act, over 5.2 million seniors and people with disabilities have saved over $3.9 billion on prescription drugs since the law was enacted. The Centers for Medicare & Medicaid Services (CMS) also released data today showing that in the first half of 2012, over 1 million people with Medicare saved a total of $687 million on prescription drugs in “donut hole” coverage gap for an average of $629 in savings this year.
“Millions of people with Medicare have been paying less for prescription drugs thanks to the health care law,” said CMS Acting Administrator Marilyn Tavenner. “Seniors and people with disabilities have already saved close to $4 billion. In 2020, the donut hole will be closed thanks to the Affordable Care Act.”
These savings are automatically applied to prescription drugs that people with Medicare purchase, after they hit the Medicare Part D prescription drug coverage gap or “donut hole.” Since the law was enacted, seniors and people with disabilities have had several opportunities to save on prescription drugs:
Coverage for both brand name and generic drugs in the gap will continue to increase over time until 2020, when the coverage gap will be closed.
For more information on how the Affordable Care Act closes the Medicare drug benefit coverage gap “donut hole,” please visit: http://www.healthcare.gov/law/features/65-older/drug-discounts/index.html
For State-by-State information on the amount of savings people with Medicare have received in the donut hole, please visit: https://www.cms.gov/Plan-Payment
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