Health reform saves Marylanders $46.2 million in prescription drug costs

Controversial donut hole being closed

March 19, 2012|Andrea K. Walker

Medicare recipients in Maryland saved $46.2 million in prescription drug costs because of health care reform, the Obama Administration said today.

The savings were achieved with rebates and discounts to ease the burden of the donut hole, when patients reach certain limits that require them to pay 100 percent of their prescription drug costs.

The announcement was made as health care reform celebrates its second anniversary this week.

In Maryland, 73,269 Medicare beneficiaries have saved an average of $630.19 onprescription drugs costs. 

The savings came from a one-time $250 rebate check to seniors who hit the “donut hole” coverage gap in 2010 and a 50 percent discount on covered brand-name drugs in the donut hole in 2011.

This year Medicare beneficiaries will receive a 50 percent discount from manufacturers on covered brand name drugs and a 14 percent savings on generic drugs in the donut hole. The Affordable Care Act expands these discounts over time until the donut hole is closed in 2020.

 

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