WASHINGTON, D.C. - Congressman Charles Rangel hailed today's report by the Department of Health and Human Services announcing that 3.6 million Medicare beneficiaries saved $2.1 billion in prescription drug costs last year as a result of the Patient Protection and Affordable Care Act. In New York State, more than 230,000 Medicare beneficiaries experienced savings totaling more than $259 million, an average of $695 per beneficiary.

“Prescription drugs cost thousands of dollars for seniors every year, and I am glad to know they are already experiencing the cost-saving benefits of President Obama's Affordable Care Act," Rangel said. "Seniors can take comfort in the enduring strength of Medicare as they direct their savings towards a dignified retirement."

The cost-cutting measures to prescription drugs are a central component of the Affordable Care Act, which became law in 2010 and passed through Congressman Rangel's leadership in the Ways and Means Committee. Discounts to brand name drugs will increase to 52.5% in 2013 and to 55% in 2015. The savings are expected to grow until the donut hole is completely eliminated for both brand-name and generic drugs in 2019.

The report also shows that over the next 10 years, the law will save seniors and people with disabilities in traditional Medicare even more money, with average beneficiary savings reaching approximately $4,200. Seniors who incur high prescription drug spending will save close to $16,000 over the same period.

"Republican efforts to repeal the healthcare law would diminish the efforts we are making to close the donut hole and provide improved Medicare provisions for seniors in our Manhattan Congressional District and across America," said Rangel. "I will defend the rights of our seniors to have affordable healthcare and continue to fight for the sustainability Medicare for future generations."