Projections have been submitted by drug and health plans for basic coverage during the 2013 benefit year and calculated by the Centers for Medicare and Medicaid services (CMS). The findings show that the average out of pocket monthly premium for basic prescription drug coverage is expected to be at approximately $30. While the average premiums for 2012 were projected at the same rate ($30) actual numbers are coming in slightly less at $29.67. With assistance from the Affordable Care Act, millions of Medicare recipients are already saving an average of over $600 each year on prescription drugs.
Seniors with disabilities are the citizens who are most affected by out of pocket prescription expenses. Unfortunately many are living at or below poverty level. Fortunately these individuals will benefit from the Affordable Care Act's efforts in correcting the coverage gap. This initiative has already made great strides towards narrowing and eliminating the "donut hole" coverage gap. Seniors and people with disabilities are now saving $3.9 billion on prescription drugs. As the Affordable Care Act progresses the coverage gap will lesson and will eventually be nonexistent
This new enactment allows people with Medicare the opportunity to compare their current coverage and quality ratings with the new benefit choices becoming effective Jan. 1, 2013. Many of these individuals will turn to their care providers to understand the best choice for their needs. It is imperative that consumers are given the help and guidance needed to understand their options.
Because of the Affordable Care Act, out-of-pocket savings on medications for people with Medicare continue to grow. Last month, The Centers for Medicare and Medicaid (CMS) announced that more than 5.2 million people with Medicare have saved over $3.9 billion on prescription drugs in the Medicare Part D "donut hole" since the law was enacted. In the first half of 2012, over 1 million people with Medicare saved a total of $687 million on prescription drugs. This is an average $629 per person this year alone. For the populations who subsist on the minimum level of Social Security benefits this savings is significant.
As a result of the Affordable Care Act, the costs for both brand name and generic prescription drugs in the coverage gap will continue to decrease over time. By the year 2020, the coverage gap will be abolished and the "donut hole" will no longer be an issue. Although it will be only one of many issues resolved, it will be a momentous achievement in the movement towards the reform of the American Healthcare System.
Seniors with disabilities are the citizens who are most affected by out of pocket prescription expenses. Unfortunately many are living at or below poverty level. Fortunately these individuals will benefit from the Affordable Care Act's efforts in correcting the coverage gap. This initiative has already made great strides towards narrowing and eliminating the "donut hole" coverage gap. Seniors and people with disabilities are now saving $3.9 billion on prescription drugs. As the Affordable Care Act progresses the coverage gap will lesson and will eventually be nonexistent
This new enactment allows people with Medicare the opportunity to compare their current coverage and quality ratings with the new benefit choices becoming effective Jan. 1, 2013. Many of these individuals will turn to their care providers to understand the best choice for their needs. It is imperative that consumers are given the help and guidance needed to understand their options.
Because of the Affordable Care Act, out-of-pocket savings on medications for people with Medicare continue to grow. Last month, The Centers for Medicare and Medicaid (CMS) announced that more than 5.2 million people with Medicare have saved over $3.9 billion on prescription drugs in the Medicare Part D "donut hole" since the law was enacted. In the first half of 2012, over 1 million people with Medicare saved a total of $687 million on prescription drugs. This is an average $629 per person this year alone. For the populations who subsist on the minimum level of Social Security benefits this savings is significant.
As a result of the Affordable Care Act, the costs for both brand name and generic prescription drugs in the coverage gap will continue to decrease over time. By the year 2020, the coverage gap will be abolished and the "donut hole" will no longer be an issue. Although it will be only one of many issues resolved, it will be a momentous achievement in the movement towards the reform of the American Healthcare System.
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