Rep. Schakowsky Applauds Prescription Drug Savings Through the Affordable Care Act

The Affordable Care Act took steps to lower Medicare prescription drug costs and newly-released data shows that nearly 11 million seniors and persons with disabilities have already saved more than $20.8 billion. Since 2010, the law has saved Illinoisans on Medicare more than $767 million on prescription drug costs. In 2015 alone over 196,000 beneficiaries saved over $204 million. Many seniors and those with disabilities also took advantage of preventative services with no coinsurance as well as having an annual wellness visit. These cost savings and free services are vital to seniors and disability beneficiaries rely on the limited income they have to pay for food, gas and other costly services every month.

We can and should do even more to lower prescription drug prices. As a founding member of the Affordable Prescription Drug Task Force, I am working hard to pass legislation that will require Medicare use its purchasing power to negotiate for discounts, as the VA and large corporations do today. I have introduced legislation to create a Medicare-operated Part D drug plan – to give seniors and people with disabilities a publicly-accountable alternative to private insurers. And I will shortly introduce a bill to require that drug companies provide information to justify any efforts to raise prices.

Please click the link to read the full report to see how the Affordable Care Act is working for Illinois