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Major Savings from the Affordable Care Act

Nearly half a million Americans enrolled in Medicare’s prescription drug benefit have received a 50 percent discount on their out-of-pocket costs during the first five months of this year, due to the Affordable Care Act. Due to Medicare improvements in the Affordable Care Act, beneficiaries  now receive a 50 percent discount on covered brand-name drugs in the Part D coverage gap (nicknamed “donut hole”). This has saved them more than $260 million this year, and 2011 is only half over!

The number of beneficiaries receiving the discount increased by a whopping 76 percent in May alone, and the total savings these beneficiaries received grew more than 56 percent in one month. That means there was a total average savings of $545 per beneficiary!

The majority of these discounts are helping Americans with serious medical conditions cope with medical bill management. More than $36 million thus far are for cancer drugs, $21 million for controlling high blood pressure and cholesterol and around $20 million for drugs for diabetic patients.

Also thanks to the new law, as of June 10, around 5.5 million people with Medicare have accessed one or more preventative measures. Stay tuned for more news from Las Vegas Integrated Medical Management!

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