Data released by the Department of Health and Human Services shows 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 Congressman Mike 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.