Conyers Flags $301 Million in Prescription Drug Savings for Michigan Seniors Under the Affordable Care Act

(DETROIT) – Today, the Centers for Medicare & Medicaid Services (CMS) released new data showing that seniors and individuals with disabilities who have Medicare prescription drug plan coverage have saved $8.9 billion on prescription drugs due to provisions in the Affordable Care Act (ACA) that closed the “donut hole” coverage gap in Medicare Part D. In Michigan, 142,120 individuals with disabilities and seniors saved more than $142 million on prescription drugs in 2013 alone – an average of more than $1,000 for each beneficiary – and more than $301 million since passage of the Affordable Care Act. After the release of this new data, Congressman John Conyers, Jr. (D-Mich.) issued the following statement:

U.S. Representative
John Conyers, Jr.

“Prior to the implementation of the Affordable Care Act, seniors and individuals with disabilities who were enrolled in Medicare Part D – the prescription drug benefit program – ran the risk of falling into the ‘donut hole’ coverage gap that would send out of pocket expenses for prescription drug benefits skyrocketing. Thanks to the Affordable Care Act, the ‘donut hole’ has been closed, saving seniors as well as people with disabilities millions on prescription drug benefits. In Michigan alone, 142,120 individuals have saved more than $301 million since the enactment of the Affordable Care Act, with an average beneficiary saving more than $1,000 each. It is clear that the historic Affordable Care Act is already having a positive impact in aiding consumers and reshaping our previously broken healthcare system,” said Conyers.

Under the discount program in the Affordable Care Act, in 2010, anyone with a Medicare Part D prescription drug plan who reached the prescription drug ‘donut hole’ got a $250 rebate. In 2011, beneficiaries who landed in the ‘donut hole’ began receiving discounts on covered brand-name drugs and savings on generic drugs. Next year, Medicare Part D participants who fall into the ‘donut hole’ will receive savings of about 53 percent on the cost of brand name drugs and 28 percent on the cost of generic drugs. These savings and Medicare coverage will gradually increase until 2020, when the ‘donut hole’ will be closed.

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The Annual Open Enrollment period for health and drug plans began on October 15 and ends on December 7. For more information on Medicare Open Enrollment and to compare benefits and prices of 2014 Medicare health and drug plans, please visit:http://www.cms.gov/Center/Special-Topic/Open-Enrollment-Center.html.

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