Tuesday, March 20, 2012

Medicare Beneficiaries Benefit From Shrinking Donut Hole

More than 5.1 million Medicare recipients saved over $3.2 billion on prescription drugs in 2011 as a result of health reform measures, including $106 million in savings on psychiatric medications. This according to a recent announcement from Health and Human Services Secretary Kathleen Sebelius. The savings included a $250 rebate check to beneficiaries who hit the Medicare Part D coverage gap—commonly referred to as the “donut hole”—in 2010, as well as a 50 percent discount on covered brand-name drugs in the donut hole in 2011, said Sebelius. Read more about Medicare Part D and how its implementation has led to a decreased reliance on inpatient care in Psychiatric News.

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