New Data Shows Affordable Care Act Saved Eastern Connecticut Seniors More than $14 Million on Prescription Drugs in 2013

Press Release

According to new data from the Centers for Medicare & Medicaid Services (CMS), 12,262 eastern Connecticut Medicare beneficiaries saved $14,474,351 on prescription drugs because of the Affordable Care Act in 2013. The number already dwarfs the $10,849,307 eastern Connecticut seniors saved in 2012, and it will continue to grow each year until the Part D donut hole is completely phased out in 2020.

Since 2010, Medicare beneficiaries have received financial help on prescription drug costs thanks to the Affordable Care Act. The law phases out the Medicare Part D donut hole--the statutory gap in coverage where beneficiaries are responsible for the full out-of-pocket drug costs. In 2013, Medicare beneficiaries who reached the Part D donut hole received a 52.5 percent discount on brand-name drugs and a 21 percent discount on generic drugs.

"As these numbers prove, the Affordable Care Act is providing seniors across eastern Connecticut with significant savings on the cost of prescription drugs," said Congressman Courtney. "Despite the false horror stories about what the law would mean for seniors, the Affordable Care Act is providing real, immediate relief to seniors who have had to pay hundreds--or even thousands--out-of-pocket for necessary prescription drugs. In addition, the ACA has stabilized Medicare Part B premiums, which did not increase for 2014."

Source