According to a new report released by the Centers for Medicare & Medicaid Services, the Affordable Care Act's ability to close the "donut hole" in Medicare Part D has saved seniors nearly $6 billion since the law was put into place in 2010. The report notes that seniors have saved $5.7 billion due to lowering costs and sending out checks to the over 6 million seniors who fell in the "donut hole," the gap between paying out-of-pocket and not having to.
"Since the law’s enactment, 6.1 million Americans with Medicare who reached the Part D coverage gap also known as the “donut hole,” have saved over $5.7 billion on prescription drugs. Drug savings of $2.5 billion in 2012 are higher than the $2.3 billion in savings for 2011.In 2012, people with Medicare in the “donut hole” received a 50 percent discount on covered brand name drugs and 14 percent discount on generic drugs. As a result of the Affordable Care Act, coverage for both brand name and generic drugs will continue to increase over time until the coverage gap is closed."
The report also states that by 2022, seniors could save between $5,000 to as much as $18,000. The Centers for Medicare & Medicaid Services report lines up with many other reports, including the 2012 Annual Rate Review Report that showed that Americans saved $2 billion because of regulations in the new health care reform.
While "Obamacare" has many opponents, the reality is that the positives heavily outweigh the negatives and in time, even those who oppose it won't be able to deny the benefits.