Washington D.C. – Nevada Senator Harry Reid announced that thousands of Nevada seniors have saved millions of dollars on prescription drugs thanks to health insurance reform that was passed in 2010. Health insurance reform enabled 22,193 Nevada residents with Medicare to save $12,274,764 on prescription drugs in 2011. On average, those Nevada seniors saved $553 on prescription drugs.
“Health insurance reform is putting money back into the pockets of Nevada seniors by reducing what they spend on prescription drugs and providing free preventive services,” said Reid. “I am glad to see seniors take advantage of these services that save money and lower long-term health care costs.”
More seniors and people with disabilities on Medicare have seen significantly lower costs for critical health care – through both discounts on brand-name drugs in the Medicare Part D “donut hole” coverage gap and free preventive care.
In 2011, about 3.6 million Medicare beneficiaries across the country received discounts on prescription drugs which amounted to more than $2.1 billion in savings. Savings will be even higher in the coming years as the health insurance reform law completely phases out the Medicare prescription drug “donut hole” by 2014. By 2021, it is projected the average Medicare beneficiary will save nearly $4,200 over a ten year period.