If you are a senior with chronic health conditions chances are a Medicare drug plan has saved you hundreds of dollars per year as you entered the coverage gap, also known as the donut hole.
In 2012, more than 3.5 million people with Medicare Part D coverage received $2.5 billion in discounts on brand-name prescription drugs. On average beneficiaries saved $706 according to Medicare. When it came to generic drugs for people in the donut hole, savings totaled $105 million for 2.8 million beneficiaries.
Drugs managing chronic conditions such as high blood sugar, blood pressure and high cholesterol accounted for almost 33% of the saving, according to the Centers for Medicare and Medicaid.