HHS: Seniors saved $11.5 billion on meds since 2010

WASHINGTON — New numbers from the Department of Health and Human Services released as Medicare turns 49 are showing it is getting better with age.

Since the Affordable Care Act was signed in 2010, more than 8 million older and disabled Americans with Medicare benefits have saved $11.5 billion on prescription drugs.

“Thanks to the Affordable Care Act, seniors and people with disabilities are saving on needed medications,” HHS Secretary Sylvia M. Burwell said. “By making prescription drugs more affordable, we are improving and promoting the best care for people with Medicare.”

The savings have come partially from provisions in the Affordable Care Act that are meant to minimize the Medicare coverage gap requiring people to pay full price for prescription. Other rebates for prescription drugs have contributed to the savings. 

These numbers accompany news that the Medicare Trust Fund will last through 2030, and news that for the second year, Part B premiums will stay the same. This is all happening as growth in spending hovers around 2% annual from 2009-2012.