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Harkin: Iowans have saved more than $120 million on prescription drugs thanks to Affordable Care Act

Tom Harkin
Tom Harkin

WASHINGTON, D.C.— Senator Tom Harkin (D-IA) today applauded news from the U.S. Department of Health and Human Services (HHS) that thousands of Iowa Medicare beneficiaries, including seniors and people with disabilities, have collectively saved more than $120 million on prescription drugs since the enactment of the Affordable Care Act (ACA). 

“Today’s news is just the latest evidence that the Affordable Care Act is working for Iowans and families across the country. Thanks to the ACA, Iowa’s Medicare beneficiaries have saved more than $120 million on vital prescription drugs,” Harkin said. “By closing the ‘donut hole,’ the law ensures that Iowan Medicare beneficiaries are saving on critically-important medications. Improving coverage for Medicare beneficiaries and shifting the program’s focus to keeping people healthy is at the heart of the health reform law. The prescription drug savings received by Iowa seniors and people with disabilities are just one example of how that promise is fulfilled every day. The law also gives Medicare beneficiaries access to annual wellness visits and preventive services like screenings without charge.”

As Chairman of the Senate Health, Education, Labor, and Pensions (HELP) Committee, Harkin played a pivotal role in the passage of the ACA. Today’s announcement comes on the heels of a report by the Medicare Trustees that estimated the life of the Medicare trust fund has been extended another four years and Part B (physician/outpatient) premiums will stay at the same level for the second year in a row.

Harkin was reacting to information released today by the Department of Health and Human Services that shows that overall, more than 8.2 million seniors and people with disabilities with Medicare continue to enjoy prescription drug savings as a result of the Affordable Care Act, saving $11.5 billion since 2010.

This news comes on the heels of continued historic low levels of growth in Medicare spending. According to the recent Medicare Trustees report, the life of the Trust Fund has been extended to 2030, up from its projection of 2017 in 2009, and Part B premiums are expected to stay the same rather than increase for the second year in a row. Additionally, a new HHS report found that per capita, Medicare spending growth has averaged 2 percent over 2009 – 2012, and nearly 0 percent in 2013, one-third of the growth rate over the 2000-2008 period.

“Thanks to the Affordable Care Act, seniors and people with disabilities are saving on needed medications,” said HHS Secretary Sylvia M. Burwell. “By making prescription drugs more affordable, we are improving and promoting the best care for people with Medicare.”

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