Report: Medicare Beneficiary Savings and the Affordable Care Act – February 2012

Report:  Medicare Beneficiary Savings and the Affordable Care Act – February 2012
New data show average American with Medicare to save nearly $4,200 through 2021 thanks to health reform
Nearly 3.6 million people with Medicare saved $2.1 billion on their prescription drugs in 2011 thanks to the Affordable Care Act according to data recently issued by the Department of Health and Human Services (HHS).
The Affordable Care Act provides a 50 percent discount on brand-name prescription drugs and this year, a 14% discount on generics.  Last year, it provided a seven percent discount on covered generic medications for people who hit the prescription drug coverage gap known as the donut hole, with 2,814,646 beneficiaries receiving $32.1 million in savings on generics.
In 2011, the 3.6 million Americans who hit the donut hole saved an average of $604 on the cost of their prescription drugs.
Data also show that women especially benefitted from the law’s provision with 2.05 million women saving $1.2 billion on their prescription drugs.
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