A better drug deal for seniors
969 views · Published 23 June 2009 · 6:01 · Indexed 20 September 2026
Channel: The Uptake by Bridgemakers · 2009 · News & Politics
THE PRESIDENT: Thank you. Well, first of all, I want to thank Barry Rand for the introduction, but also AARP, the organization he so ably represents, for coming together with us on this critical issue today. Last week, in my address to the American Medical Association, I spoke about the urgent need for health care reform and what will be required to achieve it. And one of the things that will be required, I said, was that everyone in our health care community is going to have to come together and do their part. In recent days, Chairman Baucus, who has been doing an outstanding job leading the finance committee on this issue, as well as members of my administration, have been in discussions with the pharmaceutical industry to find a way to bring down costs of prescription drugs for America's seniors. And I'm pleased to report that over the weekend we reached an understanding that will help close the notorious "doughnut hole" in Medicare Part D. This is a significant breakthrough on the road to health care reform -- one that will make the difference in the lives of many older Americans. I think many of you in the press are familiar with the issue. The "doughnut hole" refers to a gap in prescription drug coverage that makes it harder for millions of Medicare beneficiaries to pay for the medication they need. The way the program is structured, Medicare covers up to $2,700 in yearly prescription costs and then stops, and the coverage starts back up when the costs exceed $6,100. Which means between $2,700 and $6,100 folks are out of luck. And this gap in coverage has placing a crushing burden on many older Americans who live on fixed incomes and can't afford thousands of dollars in out-of-pocket expenses. Chris Dodd, who has been an outstanding leader on a whole host of health care issues throughout his career and who is helping to lead the HELP Committee while Senator Kennedy is undergoing his treatment for his illness -- Chris, I think, will tell you that as we travel around the country, seniors ...
