On the recordMarch 10, 2011
Today, I am introducing the Medicare Prescription Drugs Savings and Choice Act of 2011, a bill that would save taxpayer dollars by giving Medicare beneficiaries the choice to participate in a Medicare Part D prescription drug plan run by Medicare, not private insurance companies. In 2003, Congress enacted the Medicare Modernization Act, which added a long overdue prescription drug benefit to Medicare. Senior citizens and people with disabilities were relieved to finally have coverage for this important aspect of their healthcare needs. The way the Part D program was structured under the original law, it included a coverage gap known as the ``donut hole.'' Once an initial coverage limit was reached, beneficiaries had to absorb 100 percent of their drug costs until catastrophic coverage kicked in. That meant that approximately 3.4 million seniors nationwide with the heaviest reliance on prescription drugs faced the prospect of paying up to $4,000 out of pocket before they qualified for further assistance from Medicare. When Congress passed the Affordable Care Act last year, we made significant improvements to the Medicare Part D program.
