Daniel Akaka: “I rise today to speak on S. 1, the Prescription Drug and Medicare Improvement Act of 2003. For far too long Medicare has…”

“I rise today to speak on S. 1, the Prescription Drug and Medicare Improvement Act of 2003. For far too long Medicare has lacked a prescription drug benefit. The lack of this benefit has been the gaping hole in the Medicare safety net. Prescription drugs are the largest out-of-pocket health care cost for seniors. Many who cannot afford drug coverage often break the drugs in half, skip doses, or do not fill their prescriptions. The legislation the Senate passed last night will finally establish a benefit. I supported this bill because it is an important step forward in meeting the prescription drug needs of seniors. However, I am particularly concerned that the bill provides insufficient prescription drug coverage for seniors and depends excessively on private plans. Medicare beneficiaries will experience a gap in their prescription drug coverage after their drug expenditures reach $4,500. They will not receive any benefits until their total drug expenditures reach at least $5,813 unless they qualify for the additional low-income support. This gap in coverage will occur while they are still paying premiums. It is unfortunate that amendments designed to fill in the gap were defeated. This issue must be revisited in the future. Also, the eligibility requirements for the additional low-income support are too restrictive and will deny many seniors in need the extra help that they need.”