Posts Tagged ‘drugs

24
Feb
15

Medicare Saves $15B On Prescription Drug Costs. Thanks, ObamaCare

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Sarah Ferris: Medicare Drug Costs Shrinking Under ObamaCare

ObamaCare has led to substantial savings in prescription drug costs and a strong increase in the use of preventive services, administration officials announced Tuesday. “Our parents and grandparents on Medicare saved more than $15 billion on prescription drugs since President Obama signed the Affordable Care Act in 2010,” Health and Human Services (HHS) Secretary Sylvia Mathews Burwell said. Those savings amount to nearly $1,600 per person enrolled in Medicare — an increase from about $1,400 in average savings last year. Tackling prescription drug costs has been a major goal of the Obama administration, pledging to close the coverage gap, known as the “doughnut hole,” by 2020. Because

Medicare drug plans have a limit on how much they pay for medication, beneficiaries are forced to pay for their treatments out of pocket before their catastrophic coverage kicks in. Under ObamaCare, recipients in the “doughnut hole” receive a rebate or discount from the government to help them save on prescription drug costs until the gap can ultimately be closed. Burwell also highlighted the growing use of preventive healthcare coverage under ObamaCare — another top issue for the administration. Many provider groups only signed onto healthcare reform with the promise that preventive care would be a central tenet. Nearly 40 million people have used at least one of Medicare’s free preventive services in the last year alone, the secretary said. Nearly 5 million enrollees received the annual wellness exam.

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05
Jan
15

A Life Saved. Thanks, ObamaCare

ObamaCare Bumper Sticker

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Noam N. Levey: Obamacare’s Guaranteed Health Coverage Changes Lives In First Year

Like many working Americans, Lisa Gray thought she had good health insurance. That was until she was diagnosed with leukemia in mid-2013, and the self-employed businesswoman made a startling discovery: Her health plan didn’t cover the chemotherapy she needed. “I thought I was going to die,” Gray, 62, said recently, recalling her desperate scramble to get lifesaving drugs. it was a new health plan through the Affordable Care Act that Gray credits with saving her life. The plan, which started Jan. 1, 2014, gave her access to the recommended chemotherapy. Her cancer went into remission in the fall. It is now one year since the federal law began guaranteeing coverage to most Americans for the first time, even if they are sick.

For many Americans like Gray — who were stuck in plans that didn’t cover vital services or who couldn’t get insurance because of a preexisting medical condition — the law has had a personal, even life-changing impact. “A couple years earlier, I think I would have been done,” Gray said. But the insurance guarantee — which includes billions of dollars in aid to low- and middle-income Americans — has extended coverage to about 10 million people who previously had no insurance, surveys indicate. That cut the nation’s uninsured rate more than 20% last year, the largest drop in half a century. The law also changed coverage for millions more people who were in plans like Gray’s that capped or excluded benefits, a once-common feature of health insurance that is now banned.

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