Senior Citizens, Medicare Reaping
Big Benefits from Obamacare, $11.5 Billion Saved on Drugs
New report says per capita Medicare
spending growth averaged 2% over 2009 2012, and nearly 0% in 2013
29, 2014 - More than 8.2 senior citizens and people with disabilities
covered by Medicare have saved $11.5 billion since 2010 as a result of
the Affordable Care Act, according to data released by the Department of
Health and Human Services. Obamacare was just yesterday credited with
extending the life of Medicare benefits. This news also comes on the
heels of continued historic low levels of growth in Medicare spending.
According to the recent Medicare
Trustees report, the life of the Trust Fund has been extended to 2030,
up from its projection of 2017 in 2009, and Part B premiums are expected
to stay the same rather than increase for the second year in a row.
Additionally, a new HHS report found that per capita, Medicare spending
growth has averaged 2 percent over 2009 2012, and nearly 0 percent in
2013, one-third of the growth rate over the 2000-2008 period.
Thanks to the Affordable Care Act,
seniors and people with disabilities are saving on needed medications,
said HHS Secretary Sylvia M. Burwell. By making prescription drugs more
affordable, we are improving and promoting the best care for people with
The Affordable Care Act makes
Medicare prescription drug coverage more affordable by gradually closing
the gap in coverage where beneficiaries had to pay the full cost of
their prescriptions out of pocket, before catastrophic coverage took
effect. This gap is known as the donut hole.
Since the enactment of the
Affordable Care Act, out-of-pocket savings on medications for people
with Medicare prescription drug coverage continues to grow. More than
8.2 million seniors and people with disabilities with Medicare have
saved over $11.5 billion on prescription drugs since 2010 as a result of
discounts in the donut hole and rebates in 2010, for an average of
These figures are higher than last
year at this time when over 6.6 million seniors and people with
disabilities with Medicare had saved over $7 billion on prescription
drugs averaging $1,061 per beneficiary in donut hole discounts.
Because of the Affordable Care Act,
in 2010, anyone with a Medicare prescription drug plan who reached the
prescription drug donut hole received a $250 rebate. Beginning in 2011,
beneficiaries in the donut hole began receiving discounts on covered
brand-name drugs and savings on generic drugs.
These savings and Medicare coverage
will gradually increase until 2020, when the donut hole will be closed.
In 2014, people with a Medicare prescription drug plan who fall into the
donut hole will save from discounts and increased coverage in the gap
about 53 percent on the cost of brand name drugs and save from increased
coverage in the gap about 28 percent on the cost of generic drugs.
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