People with Medicare are paying less for their drugs. The US Department of Health and Human Services just reported $11.5 billion dollars in prescription drug savings for 8.2 million older adults and people with disabilities since 2010. Sylvia Burwell, HHS Secretary, credits the Affordable Care Act for these savings. People with Medicare are saving more and more on their prescription drugs since passage of the ACA. The average savings is $1407 as a result of drug discounts for people without coverage in the Part D prescription drug “donut hole” and drug rebates. For a state by state breakdown of savings, click here.
Overall, drug savings are up $4.5 billion since last year. Drug savings will continue to grow over the next six years until the donut hole closes in 2020.