Medicare Part D premiums will average $31 in 2014, announced the Department of Health and Human Services. This is the fourth year in a row that the average premium has held steady at about $30.
And these aren't the only savings--HHS also stated that the Part D deductible will fall from $325 to $310, keeping more money in seniors' pockets. "Seniors are benefiting from improved benefits and low premiums, thanks to a competitive and transparent marketplace for Medicare drug plans," said HHS Secretary Kathleen Sebelius.
Additionally, seniors continue to save money thanks to the closing of the coverage gap, often called the "donut hole." In fact, more than 6.6 million Medicare beneficiaries have saved over $7 billion on prescription drugs since the implementation of the Affordable Care Act, which closes the donut hole over time.
Evidence shows that when seniors can afford to take their medicines regularly, they stay healthier--reducing their risk of dangerous complications and saving money for Medicare as a whole. Federal budget calculations for overall Medicare spending now take into account that increasing prescription drug use actually lowers the costs associated with other medical services, such as hospitalizations. In fact, the White House announced just last week that Medicare spending is growing more slowly than it has in 50 years.
Let's protect the successes of Medicare Part D and keep it intact for the millions of older Americans who rely on it for affordable prescription medicines. Sign our petition today and tell Congress not to change Medicare Part D!