Barbara Boxer: “I will read it. That is why they said I could mention on the national radio address that they support my amendment--a…”

“I will read it. That is why they said I could mention on the national radio address that they support my amendment--a $1,300 cost after you hit $4,500. Let's take the case of someone who has $7,000 a year in drug costs-- and many people do. Their estimated annual premium? At least $420, maybe a little more. Their deductible? $275. They pay 50 percent of the cost of their medication, $2,113, until they get to $4,500. Now comes the benefit shutdown where they have to pay 100 percent of the cost between $4,500 and $5,812. It is actually $1,312. Then they get a good catastrophic benefit where they pay 10 percent. Look at what the senior is paying for this benefit: $4,239 out of a $7,000 bill. The point is, because of this benefit shutdown and the huge penalty, a lot of our senior citizens would get a better drug benefit if they went to Canada and bought their drugs. This is a fact. They would be better off if they went to Canada and bought their drugs. But we can fix it today. We can end this benefit shutdown, and then the benefit will be far better. Another way to look at the benefit shutdown is to see how unfair it is to our beneficiaries. You are paying your monthly premium every single month; $35 is what we are suggesting. But it could go up. We haven't reined in what they could charge you. Anyone who has dealt with insurance companies and HMOs knows that costs go up. Even Medicare has had to raise its costs a little bit.…”