Monday, October 25, 2010

Good News About "ObamaCare!"

News reports are always quick to announce the negative aspects of "ObamaCare." There are at least two positive aspects that will help seniors on Medicare.

ObamaCare (OC) Medicare Initiatives:
  • Closes the Medicare prescription drug "donut hole" by 2020. Seniors who hit the donut hole by 2010 will receive a $250 rebate.
  • Beginning in 2011, seniors in the gap will receive a 50 percent discount on brand name drugs.
Anyone on medicare and who takes a large amount of Prescription Drugs knows that the Donut Hole arrives quickly and is very costly. Starting in 2011, the OC Medicare initiatives will begin to close the hole. Seniors in the gap will not only receive a 50 percent discount on Brand named drugs, but they will only have to pay 93% (vs 100%) of the cost for generic drugs. The even better news is that by 2020, the Hole will be gone!

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