The PPACA is working to gradually close a gap in prescription drug coverage known as the “donut hole,” in which beneficiaries had to pay the full cost of prescriptions out-of-pocket before catastrophic coverage kicked in.
Starting in 2010, beneficiaries who fell into the donut hole received a $250 rebate. In 2011, the PPACA enacted discounts on covered brand-name drugs and savings on generic medications. This year, Medicare prescription drug plan beneficiaries in the hole will save about 53 percent on the cost of brand-name drugs and 28 percent on generic drugs, due to discounts and increased coverage. The savings and coverage will increase until the reform law fully closes the hole in 2020, according to HHS.
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