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Obama tackles Medicare’s prescription doughnut hole

President Obama today made official an $80 billion deal with the pharmaceutical industry to cut prescription drug costs for the nation’s seniors. As it is, Medicare patients are forced to pay the full cost for their prescription drugs when annual expenses fall between $2,700 and $6,154. Under the new agreement, drug companies would pick of 50 percent of the tab for some of those patients falling into Medicare’s so-called doughnut hole.

More Seniors Have Drug Coverage, Study Says

The number of seniors with prescription drug coverage has soared since the implementation of Medicare Part D, but some still struggle with high payments,...