Medicare Part D isn’t even three years old, and a lawmaker already wants to replace it.
Congressman Dennis Kucinich, a Democrat from Ohio, introduced a measure that would replace Medicare Part D with a new program ostensibly to lower costs. According to the bill, Medicare would negotiate directly with drug companies for prescription drug discounts and do away with co-payments, premiums, and deductibles. (CQ Politics)
In a statement, Kucinich said, “The privatized drug plan has been given a chance and, as predicted, it has failed. There is no reason for us to keep throwing money at a bad idea when we know we can save taxpayers billions of dollars and give seniors the medication they need.”
Drugs bought through Part D cost 30 percent more than drugs bought through Medicaid.
Part D beneficiaries themselves don’t seem to have problems with the drug program. According to a Harris Interactive study, 87 percent of beneficiaries said they were “happy” with the plan, and three-quarters said the plan helped them save money.
