MAINERS ON MEDICARE HAVE SAVED NEARLY $35 MILLION IN PRESCRIPTION DRUG COSTS SINCE HEALTHCARE REFORM

WASHINGTON, DC - Congressman Mike Michaud today praised data released by the Department of Health and Human Services showing that Maine seniors have saved more than $34 million in prescription drug costs since passage of the Affordable Care Act in 2010. The health reform law gradually closes the so-called Medicare "donut hole" by offering seniors savings on prescription drugs.

"The Affordable Care Act is working for Maine seniors," said Michaud. "Closing the donut hole was a strong step that has translated into real savings for our seniors. That is what reforming our healthcare system was all about: lowering costs and ensuring more Mainers could access affordable, quality healthcare."

The "donut hole" coverage gap is the period in the Medicare prescription drug benefit in which a beneficiary pays 100 percent of their drugs until they hit the catastrophic threshold. The ACA gradually closes the gap over 10 years, offering significant discounts on covered brand-named drugs and savings on generic drugs.

Read this original document at: http://michaud.house.gov/press-release/mainers-medicare-have-saved-nearly-35-million-prescription-drug-costs-healthcare