New York legislators and Gov. David Paterson have agreed to preserve the state’s Elderly Pharmaceutical Insurance Coverage program, which had been in jeopardy of losing more than $50 million in “wrap around” coverage, according to AARP New York.

The wrap around coverage pays for an EPIC enrollee’s prescription drugs when the drugs are not covered by a Medicare Part D plan.

“This proposal could have had a negative impact on hundreds of thousands of low-income and elderly New Yorkers who rely on the EPIC program,” said Lois Aronstein, state director of AARP New York, which has 2.5 million members in the state.

“Eliminating the EPIC ‘wrap around’ coverage could have cost New York State significantly more in the long run,” she said in a statement. She added that not taking medication as directed by a health care professional can lead to an increased risk of declining health, increased visits to the emergency rooms, and increased admissions to nursing homes. All of those issues would cost the health care system more, she said.

“No one should have to walk away from the pharmacy counter without the prescription drugs they need. By restoring wrap around coverage, the state is living up to its promise to one of its most vulnerable populations,” Aronstein said.

The AARP said the average EPIC enrollee is a 78-year-old man or woman who takes four prescription medications. Before the state partnered EPIC with Medicare Part D, taxpayers were paying close to $1 billion to fund EPIC. The cost of the EPIC program today is a little more than $468 million, the AARP said.

The EPIC coverage had been in place for more than 20 years.