[HM2Viking]

Insurers' Medicare Drug Coverage Is Criticized

By SARAH LUECK
October 13, 2007; Page A4

WASHINGTON -- The Republicans who created a prescription-drug benefit for Medicare four years ago said private health insurers would be more efficient than the federal government at providing the coverage. Now Democrats say they have proof that isn't the case.
A new analysis, compiled by congressional investigators at the request of Rep. Henry Waxman (D., Calif.) and set to be released in the coming week, said private insurers selling Medicare-funded drug coverage aren't getting "significant" discounts from drug makers and that the discounts they receive aren't always shared with Medicare beneficiaries.
The report said taxpayers and Medicare beneficiaries would have saved almost $15 billion this year if the drug plans had administrative costs similar to traditional Medicare's hospital and physician coverage, and discounts on drugs similar to those obtained by the government in Medicaid, the state-federal program for the poor.
Source: http://online.wsj.com/article/SB1192...googlenews_wsj accessed today.

[dream'n]

Didn't the Repulicans including Bush, go to lengths when the Medicare-Drug plan was passed to make sure that the government couldn't barder with the drug companies for lower prices? Sort of a large-group discount, as private insurers do? Sounded like a huge gift to the drug companies then, and now.

[elkpark]

Originally Posted by dream'n

Didn't the Repulicans including Bush, go to lengths when the Medicare-Drug plan was passed to make sure that the government couldn't barder with the drug companies for lower prices? Sort of a large-group discount, as private insurers do? Sounded like a huge gift to the drug companies then, and now.

Yes, the Medicare Part D program was carefully designed by the Republicans to be a giant give-away to the pharmaceutical and insurance companies. It's worked out exactly as many of us predicted that it would ...

[txspadequeen921]

I searched and searched...compared then searched some more for Part D coverage for my parents. I took each drug and broke down the cost and will admit you must be careful which drug you claim on insurance. One of my dads BP meds is a tier 3 drug which is 60 because it is not covered.. But to buy the drug just outright is $38. All that aside they save about $300 a month. They spend about $115 on the monthly premium and my mothers medication totals $30 then my dad spends about $42 on his. It is a big savings for them. I just came from my parents to review the increase in premium for this upcoming year. Humana has increased by at least $12 on my mothers and she has the max plan. However, Humana has lowered RX co-pay ,so in the end it just about evens out. One thing I hate about all these plans is that there is no way the elderly can understand how this works. It is very confusing for them, thats why I took complete charge and it saves them the worry. We have been very pleased with the Part D program but will always appreciate a chance to save more money.

Originally Posted by HM2Viking

Insurers' Medicare Drug Coverage Is Criticized

By SARAH LUECK
October 13, 2007; Page A4

WASHINGTON -- The Republicans who created a prescription-drug benefit for Medicare four years ago said private health insurers would be more efficient than the federal government at providing the coverage. Now Democrats say they have proof that isn't the case.
A new analysis, compiled by congressional investigators at the request of Rep. Henry Waxman (D., Calif.) and set to be released in the coming week, said private insurers selling Medicare-funded drug coverage aren't getting "significant" discounts from drug makers and that the discounts they receive aren't always shared with Medicare beneficiaries.
The report said taxpayers and Medicare beneficiaries would have saved almost $15 billion this year if the drug plans had administrative costs similar to traditional Medicare's hospital and physician coverage, and discounts on drugs similar to those obtained by the government in Medicaid, the state-federal program for the poor.
Source: http://online.wsj.com/article/SB1192...googlenews_wsj accessed today.

[HM2Viking]

15 Billion buys a lot of care. I personally hate the fact that the Medicare Advantage plans are 20% more expensive......

[CRNA2007]

Great then my investments in the pharmaceutical companies should reap me some huge capital gains. I wish my parents had invested in grocery stores when the failed war on poverty was a huge give away to grocery stores.

Originally Posted by elkpark

Yes, the Medicare Part D program was carefully designed by the Republicans to be a giant give-away to the pharmaceutical and insurance companies. It's worked out exactly as many of us predicted that it would ...

[elkpark]

Originally Posted by CRNA2007

Great then my investments in the pharmaceutical companies should reap me some huge capital gains. I wish my parents had invested in grocery stores when the failed war on poverty was a huge give away to grocery stores.

Your Big Pharm investments should already be reaping you some huge capital gains, seeing as how it's the most profitable industry on the planet ...