Savings for seniors came from a one-time $250 rebate check to seniors who hit the “doughnut hole” coverage gap — out-of-pocket payments after exceeding the prescription drug coverage limit but before reaching the catastrophic coverage threshold — in 2010 and a 50 percent discount on covered brand-name drugs in the doughnut hole in 2011.
In 2012, drug manufacturers will give Medicare beneficiaries a 50 percent discount on covered brand name drugs and a 14 percent discount on generic drugs in the doughnut hole. The healthcare law will expand these discounts over time until the doughnut hole is completely eliminated in 2020.
More Articles on Healthcare Reform:
HHS: Health Law Helped Medicare Beneficiaries Save $2.1B on Drugs in 2011
CMS: Medicare Beneficiaries Saved More Than $1.5B on Prescriptions This Year
CMS Data: Health Law Delivers Reduced Costs to More Seniors on Medicare
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