* Gradually closes the "doughnut hole" health insurance coverage gap in the Medicare prescription drug benefit that seniors fall into once they have spent $2,830. Seniors who hit the gap this year will receive a $250 rebate. Beginning in 2011, seniors in the gap receive a discount on brand name drugs, initially 50 percent off. When the gap is completely eliminated in 2020, seniors will still be responsible for 25 percent of the cost of their medications until Medicare's catastrophic health insurance coverage kicks in.
Health Insurance Exchanges:
* The uninsured and self-employed would be able to purchase insurance through state-based exchanges with subsidies available to individuals and families with income between the 133 percent and 400 percent of poverty level.
* Separate exchanges would be created for small businesses to purchase coverage -- effective 2014.
* Funding available to states to establish exchanges within one year of enactment and until January 1, 2015.
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