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Obamacare Medicare Changes Saved Almost $6 Billion On Drugs
Jeffrey Young
02/07/2013
Health care reform may have been suffered some bruises at the hands of Congress and the Supreme Court that could shorten its reach and Medicare may face cuts during the next round of budget negotiations between President Barack Obama and congressional Republicans.
But one part of Obamacare appears to be working as intended: Older Americans and people with disabilities are paying less for their prescription drugs under Medicare. According to a report issued Thursday by the Obama administration, health care reform has saved 6.1 million people more than $5.7 billion.
Specifically, the health care reform law closes the notorious "donut hole" in the Medicare Part D prescription drug benefit. Since President George W. Bush introduced pharmacy coverage to Medicare in a 2003 law, the drug benefit came with a gap during which some Medicare beneficiaries had to pay the full cost for their medications. Obamacare started offering more help for prescription expenses in 2010 and by 2020, the donut hole will be no more.
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Obamacare Medicare Changes Saved Almost $6 Billion On Drugs
Jeffrey Young
02/07/2013
Health care reform may have been suffered some bruises at the hands of Congress and the Supreme Court that could shorten its reach and Medicare may face cuts during the next round of budget negotiations between President Barack Obama and congressional Republicans.
But one part of Obamacare appears to be working as intended: Older Americans and people with disabilities are paying less for their prescription drugs under Medicare. According to a report issued Thursday by the Obama administration, health care reform has saved 6.1 million people more than $5.7 billion.
Specifically, the health care reform law closes the notorious "donut hole" in the Medicare Part D prescription drug benefit. Since President George W. Bush introduced pharmacy coverage to Medicare in a 2003 law, the drug benefit came with a gap during which some Medicare beneficiaries had to pay the full cost for their medications. Obamacare started offering more help for prescription expenses in 2010 and by 2020, the donut hole will be no more.
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