Prescription drug costs represent a significant expense for seniors. While Medicare added a prescription drug benefit, this benefit includes a coverage gap commonly called the “donut hole.” In 2007, over 8 million seniors hit the “donut hole.” For those who are not low-income or have not purchased other coverage, average drug costs in this coverage gap are $340 per month, or $4,080 per year. Health insurance reform will close the coverage gap in Medicare Part D over time, so seniors do not have to worry about losing coverage for their drug costs. While the closure of the coverage gap is phased in, health insurance reform will also provide seniors with a discount of 50 percent on their brand name medication costs in the coverage gap, saving thousands of dollars for some seniors.

Source: http://www.hhs.gov/news/press/2009pres/09/20090923b.html

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