THE MEDICARE MESS

www.progressreport.org

2/8/2005

THE MEDICARE MESS: The industry-backed
(http://www.thestate.com/mld/thestate/7302705.htm) prescription drug
bill President Bush jammed through Congress is a bad law that keeps
getting worse. While the bill was pending before Congress, the
administration promised the bill would cost $400 billion over 10 years
(http://www.detnews.com/2004/health/0407/04/health-199832.htm) and
threatened to fire the Medicare actuary who knew that figure was too low
(http://www.globalaging.org/health/us/2004/wanted.htm) . Later, the
administration revised its estimated price tag to $534 billion over 10
years, largely due to excessive payments to private insurers and HMOs
(http://www.cbo.gov/showdoc.cfm?index=4995&sequence=0) . Now, in the
most recent budget, the Bush administration estimates the bill will cost
$395 billion over five years
(http://www.washingtonpost.com/ac2/wp-dyn/A4563-2005Feb7?language=printer)
. In the meantime, drug companies have already jacked up their prices
enough to offset any discount to seniors
(http://www.detnews.com/2004/health/0407/04/health-199832.htm) .