The Affordable Care Act is helping Medicare recipients save on the care they need to stay healthy—from prescription drugs to monthly premiums.
Seniors who fell into the Medicare doughnut hole last year saved an average of $600 on their prescription drugs.
Closing the doughnut hole
Millions of seniors fell into the Medicare “doughnut hole” every year, a gap in prescription drug coverage where you had to pay out of pocket, sometimes thousands of dollars.
Medicare recipients who fall into the coverage gap get big discounts: 50 percent on brand name prescriptions, and up to 14 percent on generic drugs. And by 2020, this gap in coverage will be closed—for good.
Cutting premiums and deductibles
Medicare costs were growing, forcing seniors to pay more and more out of pocket.
Medicare costs will decrease in 2012, and premiums for prescription drugs and the cost of Medicare Advantage health plans have already dropped. For folks covered with Medicare Part B, the deductible fell by $22 between 2011 and 2012, and premiums are lower than projected this year.
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