2.65 million seniors covered by Medicare will save $1.5 billion in drug costs this year

2.65 million seniors covered by Medicare will save $1.5 billion in drug costs this year (Alberta Times) "Center for...

2.65 million seniors covered by Medicare will save $1.5 billion in drug costs this year (Alberta Times) The Center for Medicare and Medicaid Services announced on the 6th that more than 2.65 million Medicare beneficiaries have saved more than $1.5 billion on prescription drug plans this year, with an average savings of $569 per person, and premiums have remained stable. The reason is that the health insurance law provides half-price discounts for "doughnut hole" prescription drugs in the Medicare Part D plan. Since the regulations were changed due to the health care law this year, as of the end of November, more than 24 million people, or about half of Medicare beneficiaries, have received free annual physical exams or other screenings, said center director Brahm. "We are very pleased with this outcome. Premiums for the Medicare Part D plan have remained stable despite expectations for increases in 2012." However, the Ministry of Health and Welfare announced in August that the monthly premium for the Medicare prescription drug plan will average about 30 yuan next year, compared with 30.76 yuan this year. Starting from this year, seniors who fall into the "donut hole gap" in prescription drug benefits will receive a 50% discount on brand-name prescription drugs; drug manufacturers must provide discounts to join the prescription drug plan. Before the health insurance law was passed, the excess cost of prescription drugs in the Medicare coverage gap had to be paid by the patient. Bram pointed out that the elderly have become more concerned about their medical benefits, and the authorities have vigorously promoted this change. Cannon, director of health care policy research at the Cato Institute, said that preventive benefits are by no means free because they are still borne by taxpayers, and "there is no free lunch."