Political Quotes

“It is really different from a stop-loss provision that I have talked about for an individual senior. That is a stop the loss out of his pocket. What the gentleman from Pennsylvania is talking about is the Federal Government telling the insurance industry we will stop your losses for any seniors in, say, the top 2 rac{1}{2} ext{ percent of expenditures for drugs. We know that that top 2 rac{1}{2} ext{ percent of seniors in terms of their drug cost constitutes about 25 percent of the total drug expenditures for the senior population. So if we give the insurance industry some reinsurance protection, so to speak, against those extraordinarily high-cost seniors, then they will be able to write a product, produce a product in the marketplace at a premium that will be substantially lower, perhaps as much as 25 percent lower than they could if we gave them no protection in a reinsurance way against those extraordinarily high-cost seniors.”