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Pelosi: Seniors Saving More on Prescription Drugs Thanks to the Affordable Care Act

San Francisco – Democratic Leader Nancy Pelosi released the following statement today after the Centers for Medicare and Medicaid Services (CMS) issued new data showing that more than 7.3 million seniors and people with disabilities who reached the “donut hole” have saved $8.9 billion on their prescription drugs since the Affordable Care Act became law.  The data includes savings of nearly $726 million for California seniors.  The report also notes that Medicare Part B premiums will not increase in 2014, thanks to the law’s efforts to keep cost growth low.

“Today’s report demonstrates yet another way that the Affordable Care Act is working for our families, improving the health and economic security of seniors, and placing a healthier future in reach for millions more Americans.  With the ‘donut hole’ closing and cost growth slowing, seniors and people with disabilities are saving more, paying less, and gaining greater access to the prescription drugs they need to stay healthy.  That is a clear sign of progress for the American people.

“It is a source of great pride to leaders throughout our state that California continues to lead the way in making the health care law a success for local seniors.  In just the first ten months of this year, more than 280,000 seniors and people with disabilities in California have saved an average of $900 per beneficiary on their prescriptions.  They join nearly 3.4 million seniors and people with disabilities nationwide reaping the same rewards from our landmark reforms in 2013 and seeing more affordable care for themselves and their families.

“Moving forward, we will keep working to ensure that the Affordable Care Act meets its goals for America’s seniors: to extend the life and solvency of Medicare and to make their health care more affordable.”