Republicans side with big pharma over seniors, Medicare

Sep 2012
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Nothing new here...just republiCons trying to suck the last nickel out of seniors in favor of "BIG PHARMA" (big donors).

Republicans side with big pharma over seniors, Medicare
This story is absolutely insane, demonstrating just how bought-off the entire Republican Party is. The Congressional Budget Office made a mistake. It estimated that the Bipartisan Budget Act of 2018 would save Medicare $7.7 billion over the next decade in a change it made to a Medicare Part D drug discount program. That was a $4 billion error, in Medicare's favor, and also in favor of Medicare beneficiaries facing high prescription costs. So the changes will save Medicare—meaning the taxpayers—$11.8 billion in the next two years.

It means drug companies have to offer deeper discounts to enrollees who fall in the so-called “donut hole,” or the gap created when an enrollee's prescription costs exceed the coverage limits in their Part D plan. Drug companies have to offer those enrollees a 70 percent discount on drugs, up from 50 percent before the budget bill passed. So drug companies pay more, Medicare enrollees pay less, and it is saving taxpayers money.

...CONTINUE READING...
CBO underestimates Medicare Part D savings by $4 billion due to oversight lapse