Since the Affordable Care Act mandate for insurance companies to cover contraception took effect in August 2012, women have saved an estimated $1.4 billion on birth control pills. A new report published in the journal Health Affairs found that, on average, spending on a single birth control prescription has decreased from $32.74 to $20.37, saving individuals $255 annually. Savings extend to forms of birth control other than the pill, too. Out-of-pocket spending on intrauterine devices has fallen by an estimated 68 percent, equating to individual savings of $248 annually.
"It turns out the law is doing exactly what the law says should be done," the study's lead author, Nora Becker, told Newsweek. "I was surprised by the speed at which we've seen a drop in price." The ACA now requires insurers to cover all FDA-approved forms of birth control, without any copayments or deductibles.
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