| AARP: "Many who choose the least expensive Medicare drug plan in their area that covers all their drugs could pay less this year than getting those same drugs from Canada,” according to an AARP Bulletin investigation. |
The Medicare prescription drug program has been a great success. More than 39 million seniors and disabled Americans now have comprehensive prescription drug coverage, and those enrolled in the program are overwhelmingly satisfied with their prescription drug plans. Seniors are also seeing savings on average of $1,200, according to the Centers for Medicare and Medicaid Services.
In a recent survey conducted by the Wall Street Journal/Harris Interactive, 87 percent of seniors enrolled in Part D said they are satisfied with the program. Even better, 76 percent said they are saving money on their prescription purchases.
This means that not only are seniors getting improved access to their prescription medicines, but they are spending less money while doing it.
What’s more, the price to the government for the prescription drug benefit is much lower than originally expected. A January report by the Congressional Budget Office lowered Part D’s projected 10-year total cost by $40 billion compared to the 2007 estimate, which means that the CBO has dropped its 2007-2016 cost estimate for total Part D spending by $427 billion since 2006.
Not only is Part D working, it is exceeding expectations by providing satisfaction and patient access to life-saving medicines at a lower cost to patients and taxpayers than thought possible.