Senator Boxer: Prescription Drug Savings for Medicare Beneficiaries
Tuesday, February 21, 2012
Thanks to health care reform, 3.6 million Medicare patients – including nearly 320,000 Californians – saved $2.1 billion on prescription drugs last year. The Department of Health and Human Services recently reported that because of the health care reform law, the average Medicare beneficiary saved $604 last year and will save nearly $4,200 on prescription drugs by 2021.
Right now, health care reform is providing a 50% discount on brand-name prescription drugs for all seniors who hit the prescription drug coverage gap known as the donut hole.
These savings will continue to increase over time until the year 2020, when the donut hole will finally be closed completely.
To read more about Medicare prescription drug savings, please click here. For a report on other savings that Medicare beneficiaries will see over time, click here.
U.S. Senator Barbara Boxer