Medicare recipients in donut hole to see 50 percent discount on brand name drugs in 2011.

Three months ago, the U.S. Department of Health and Human Services along with Vice President Joe Biden announced that U.S. drug manufacturers will provide 50 percent discounts on the cost of brand-name prescription drugs for Medicare Part D beneficiaries.  Speaking on behalf of the nations seniors, Vice President Biden said, “Thanks to the Affordable Care Act, millions of people with Medicare who will fall into the Part D donut hole next year will pay less for their prescription drugs, adding that it is just one of the ways the new health care law helps make Medicare stronger.”  Such discounts have already started.  Health and Human Services secretary Kathleen Sebelius stated that, “More than 1.2 million beneficiaries who have hit the donut hole so far this year have received their $250 rebate checks as part of the cost savings provisions in the Affordable Care Act, and millions more are on deck to get a check.”  Furthermore, seniors and people who are disabled will find premiums will be stable next year along with an increase in the number of prescription drug plans.

Credit source: 12/27/10.

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