Rhode Islanders saved $45.2M since Affordable Care Act enacted

PROVIDENCE – Rhode Islanders saved $45.2 million since the Affordable Care Act was enacted in 2010, according to information from the federal Department of Health and Human Services.
Last year, the federal agency said 16,337 people with Medicare in Rhode Island saved $13.4 million, an average of $818 per Medicare beneficiary.
According to information from U.S. Sen. Sheldon Whitehouse, prior to the passage of the Affordable Care Act, thousands of Ocean State seniors fell into the “so-called Medicare doughnut hole” and were forced to pay the full cost of their prescription drugs. Whitehouse said he successfully fought to eliminate the “doughnut hole” as part of the Affordable Care Act.
“The Medicare doughnut hole hit seniors hard for years,” Whitehouse said in a statement. “Now they’re saving hundreds of dollars on their prescriptions and gaining access to free preventive services they used to pay for. The Affordable Care Act is making a big difference to Rhode Island seniors.”
The doughnut hole used to expose seniors to the full cost of prescription drugs after they and their plan spent a certain amount of money for covered drugs, but before they hit catastrophic coverage, according to Whitehouse.
The federal agency said that because of the health care law, in 2010, anyone with a Medicare prescription drug plan who reached the prescription drug doughnut hole received a $250 rebate. In 2011, beneficiaries in the doughnut hole began receiving discounts on covered brand-name drugs and savings on generic drugs.

People with Medicare Part D who fall into the doughnut hole in 2015 will receive discounts up to 55 percent on the cost of brand name drugs and 35 percent on the cost of generic drugs. Discounts will increase until the hole is completely closed in 2020.
The Affordable Care Act also made certain preventive services, such as annual wellness visits and mammograms, available at no out-of-pocket cost, Whitehouse said. Data released by the Centers for Medicare and Medicaid Services showed that more than 38.9 million people on Medicare – including 146,201 in Rhode Island – received at least one free preventive service in 2014, according to the federal agency.

Also, according to a recent Gallup Poll, Rhode Island’s rate of uninsured residents dropped 3.9 percentage points in 2014 to 9.4 percent from 13.3 percent in 2013.

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1 COMMENT

  1. RIers on Medicare saved that much. It’s obvious that RIers as a whole have spent far more. Not that healthcare for everyone is a bad thing, its a good thing. Misleading stories aren’t necessary.