HHS announced that under the Patient Protection and Affordable Care Act, more than 5.1 million Medicare beneficiaries have saved more than $3.2 billion on prescription drugs.
Savings for seniors came from a one-time $250 rebate check to seniors who hit the "doughnut hole" coverage gap — out-of-pocket payments after exceeding the prescription drug coverage limit but before reaching the catastrophic coverage threshold — in 2010 and a 50 percent discount on covered brand-name drugs in the doughnut hole in 2011.
In 2012, drug manufacturers will give Medicare beneficiaries a 50 percent discount on covered brand name drugs and a 14 percent discount on generic drugs in the doughnut hole. The healthcare law will expand these discounts over time until the doughnut hole is completely eliminated in 2020.
CMS: Medicare Beneficiaries Saved More Than $1.5B on Prescriptions This Year
CMS Data: Health Law Delivers Reduced Costs to More Seniors on Medicare
Savings for seniors came from a one-time $250 rebate check to seniors who hit the "doughnut hole" coverage gap — out-of-pocket payments after exceeding the prescription drug coverage limit but before reaching the catastrophic coverage threshold — in 2010 and a 50 percent discount on covered brand-name drugs in the doughnut hole in 2011.
In 2012, drug manufacturers will give Medicare beneficiaries a 50 percent discount on covered brand name drugs and a 14 percent discount on generic drugs in the doughnut hole. The healthcare law will expand these discounts over time until the doughnut hole is completely eliminated in 2020.
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HHS: Health Law Helped Medicare Beneficiaries Save $2.1B on Drugs in 2011CMS: Medicare Beneficiaries Saved More Than $1.5B on Prescriptions This Year
CMS Data: Health Law Delivers Reduced Costs to More Seniors on Medicare