|
The Medicare Prescription Drug Coverage Act that I am cosponsoring would create a voluntary, universal benefit as part of the Medicare program.
The legislation ensures that all beneficiaries have the option of prescription drug coverage, whether they are in a traditional Medicare or a Medicare+Choice plan. Under the bill, fee-for-service Medicare
would offer a drug benefit for the first time, and Medicare+Choice plans would offer a stable, defined benefit to their enrollees. The legislation also strengthens private retiree health coverage by providing
incentives for employers to maintain or offer drug coverage to their retirees. The benefit would be entirely voluntary; no beneficiary would have to change or give up their exisitng coverage. In traditional
Medicare, beneficiaries could choose among multiple entities that would deliver the benefit in each area. Medicare+Choice plans would administer the benefit for their enrollees who elect Part D. Employers
who already provide a comparabe drug benefit for their retirees would be eligible for a subsidy to continue providing that benefit. |
|
