The Patient Protection and Affordable Care Act allowed Medicare recipients to receive a 50 percent discount on brand-name drugs and a 14 percent discount on generics.
By 2020, the doughnut hole, which is the prescription drug price range that Medicare beneficiaries must pay out of pocket because they reached their drug coverage limit, will be completely closed. HHS predicted that by 2021, the average Medicare beneficiary will save nearly $4,200 on prescription drug costs.
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CMS Data: Health Law Delivers Reduced Costs to More Seniors on Medicare
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