Medicare drug costs shrinking under Obamacare

ObamaCare has led to substantial savings in prescription drug costs and a strong increase in the use of preventive services, administration officials announced Tuesday. "Our parents and grandparents on Medicare saved more than $15 billion on prescription drugs since President Obama signed the Affordable Care Act in 2010," Health and Human Services (HHS) Secretary Sylvia Mathews Burwell said. Those savings amount to nearly $1,600 per person enrolled in Medicare — an increase from about $1,400 in average savings last year. Burwell delivered the announcement — which she joked came from the agency's "good news department" — in front of thousands of doctors at the annual D.C. meeting of the American Medical Association.