A new report out by the Centers for Medicare and Medicaid Services (CMS) says that the 2010 Affordable Care Act has helped seniors and people with disabilities with Medicare save a total of $3.4 billion on prescription drugs from the enactment of the law through March 2012.
According to CMS, in the first three months of 2012 alone, more than 220,000 individuals saved and average of $837 on the prescription drugs they purchased after they hit the prescription drug donut hole, for a total of $184.5 million in savings. The federal agency noted that in 2010 and 2011, more than 5.1 million people with Medicare saved over $3.2 billion on prescription drugs.
“This is yet another reminder that President Obama’s health law is good for seniors. But too many seniors do not know this – we must redouble our efforts to educate our friends and neighbors,” said Alliance for Retired Americans Executive Director Edward F. Coyle.