I would like to call the attention of this Chamber to a government program that is under budget and immensely popular. In 2003 when Medicare part D was passed, it was hotly contested, and rightly so. The Medicare Modernization Act represented one of the largest expansions of Medicare since its creation. However, what cannot be contested is part D's success. Premiums are far below projections--less than half the $61 monthly premium originally projected. Benefits packages are actually expanding, giving seniors more coverage and options. The CBO has confirmed that the increased usage of prescription drugs by seniors is offset by savings in medical services. Medicare part D is keeping our seniors healthy for less, and they love it: 96 percent say their coverage works well. The benefits of competition, prevention, and consumer choice have been tested and proven. It begs the question: When will we apply these principles to other Federal health care programs? And why is the President trying to cripple part D through price controls and new taxes when it is performing well? ____________________
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