The Affordable Care Act – A Stronger Medicare Program in 2012
CMS: February 6, 2013
This second annual report details how millions of seniors and people with disabilities with Medicare continued to experience lower costs on prescription drugs and improved benefits in 2012 because of the Affordable Care Act.
Since the law’s enactment, 6.1 million Americans with Medicare who reached the Part D coverage gap also known as the “donut hole,” have saved over $5.7 billion on prescription drugs. Drug savings of $2.5 billion in 2012 are higher than the $2.3 billion in savings for 2011. In 2012, people with Medicare in the “donut hole” received a 50 percent discount on covered brand name drugs and 14 percent discount on generic drugs. As a result of the Affordable Care Act, coverage for both brand name and generic drugs will continue to increase over time until the coverage gap is closed. Read more