Ravenwood - 12/10/03 06:00 AM
The Congressional Budget Office says that if Senator Kennedy expands the Medicare 'Free' Prescription Drug Program, the $395 Billion cost will probably be closer to $2 Trillion (with a T) by the second decade, reports the Washington Times.
Under the newly signed Medicare law, a senior who enrolls in the new benefit would pay $250 annual deductible and about $35 monthly in return for the government paying three-quarters of annual drug costs up to $2,250. If the senior's annual drug costs go beyond that, however, he falls into a coverage gap, during which there is no additional help from the government until drug expenses reach $5,100. Then catastrophic coverage kicks in, and the government picks up 95 percent of additional drug costs.For the record, Senator Kennedy, who is pushing to expand the Medicare bill, wants to pay for any cost overruns with a tax increase on the rich.The bill that Mr. Kennedy and other Democrats are set to introduce today would close that drug-coverage gap, ensuring that a senior would have continuous coverage from the government.
Category: Fall of Western Civilization
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