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Study: Medicare drug plan saves hospital costs

A new study suggests that Medicare's 5-year-old prescription drug plan is keeping seniors out of hospitals and nursing homes, saving the federal program an estimated $12 billion a year in those costs.

By Carla K. Johnson | Updated on July 26, 2011

CHICAGO (AP) — A new study suggests that Medicare’s 5-year-old prescription drug plan is keeping seniors out of hospitals and nursing homes, saving the federal program an estimated $12 billion a year in those costs.

The savings only offset a portion of the $55 billion a year the government spends on Medicare Part D, as the drug plan is known. But the study’s authors say it means seniors are staying healthier and enjoying a better quality of life.

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