dear members,
thank goodness, individuals such as Paul Wellstone took the pharmaceuticals
by their Leviathan hooves,
and created legislation for seniors and other folks ...allowing for the
access of medication at affordable prices..and more
it's important to keep
thy head out of the sand... don't you think?
take care out there
tess
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FOR IMMEDIATE RELEASE
MAY 23, 2001
11:01 AM
CONTACT: Senator Paul Wellstone
Jim Farrell or Allison Dobson 202/224-844
Wellstone Introduces Comprehensive Medicare Prescription Drug Package, The
MEDS Act, S. 925
WASHINGTON - May 23 - Responding to the pressing needs of millions of
American seniors for a meaningful Medicare prescription drug benefit, U.S.
Senator Paul Wellstone (D-MN) today introduced The Medicare Extension of
Drugs to Seniors (MEDS) Act of 2001 (S. 925), comprehensive legislation
that synthesizes the best and most innovative policy ideas from the debate
surrounding the prescription drug benefit issue. The bill addresses the
twin problems of affordable prescription drug coverage for millions of
America’s senior citizens, and inflated U.S. prices for medications. Rep.
Bernie Sanders (I-VT) has introduced companion legislation in the House,
and the bill has been endorsed by the congressional Progressive Caucus.
“It is time to make prescription drugs affordable for America’s senior
citizens, millions of whom live on fixed incomes while the cost of often
life-saving drugs skyrockets year after year. President Bush’s proposal
fails to get us there. MEDS will cover all seniors on Medicare, is
affordable and safe, and has strong cost containment measures. This is a
real prescription drug benefit, the one America’s seniors deserve, and a
big improvement over what the Administration has offered seniors,” said
Wellstone.
In contrast to the Bush plan unveiled in January, which only covers seniors
who make less than $15,000, the Wellstone package covers all Medicare
beneficiaries, would pay for 80% of a senior’s drug costs, and at a
comparable price to the federal government. Unlike the Bush proposal which
seeks to throw billions of dollars of taxpayer money at the pharmaceutical
industry without regard to the overall price of prescription drugs, the
Wellstone plan employs common-sense cost-containment measures such as:
Volume Pricing Discounts which allow seniors to purchase their prescription
drugs at the best price that the federal government pays when it purchases
medications for VA Hospitals and Medicaid. Reasonable Pricing Agreements
when NIH enters into agreements with commercial drug companies to bring
NIH-researched drugs to market.
Closing Loopholes in the Prescription Drug Importation Act
In Minnesota, 65 percent of seniors have no prescription drug coverage;
twice the national average. Over half of the seniors in the U.S. have
either no prescription drug coverage or totally inadequate coverage. The
time has come to enact a comprehensive, affordable, 20-percent co-pay,
$2000-cap, prescription drug benefit for all seniors - a plan that does not
favor the health insurance or pharmaceutical industries over our own
parents and grandparents. The MEDS Act provides such a benefit.
###
SUMMARY
THE MEDICARE EXTENSION OF DRUGS TO SENIORS ACT (MEDS), S. 925
Overview:
MEDS establishes an 80/20 outpatient prescription drug benefit under a new
Medicare Part D that will be administered by the Health Care Financing
Administration. The plan will cost similar to figures for the Bush
prescription drug plan due to this plan’s emphasis on lowering the price of
pharmaceuticals.
Coverage:
× First_dollar 80%/20% benefit (may charge beneficiary less for generics)
× Catastrophic coverage begins at $2000 out_of_pocket.
× No beneficiary would have to spend more than $2288 for prescription drugs
(including premium)
Prescription Drug Prices:
× (Reimportation) Beginning 2003, all FDA_approved prescription drugs would
be allowed for importation at world market prices after being tested for
safety. Once fully implemented, Medicare could set fee schedules based on
imported drug prices.
× (Allen Bill) To eliminate price discrimination, manufacturers would
charge
Medicare and its beneficiaries the price equal to the lower of either the
lowest price paid for the drug by other Federal Government agencies or the
manufacturer's best price for the drug.
× (Reasonable Prices) Drugs developed with taxpayer funds would be subject
to"reasonable price" agreements when patents are transferred to
pharmaceutical companies.
Premiums and Low_income Assistance:
Premiums would be $24/month in the first year and indexed to a
pharmaceutical Sustainable Growth Rate, which will ensure that premiums or
drug costs do not increase arbitrarily.
The Government would subsidize low_income beneficiaries to the following
levels:
- 100% of the premium and cost sharing for beneficiaries below 135% of
poverty.
_ Partial subsidy on a sliding scale for those between 135% and 150%
Employer Incentive Program:
Employers providing drug coverage equal to or better than the Medicare
coverage receive an incentive payment to maintain such coverage
.
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