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- #61
I agree. Part D is a mess. Congress created a program that most insurance company do not understand and they expect seniors to understand it and make wise choices; really dumb. The insurance companies in effect create their own plans based on government criteria. Each company is allowed to cover different drugs with different copays different deductibles and different premiums. The insurance companies are reimbursed by Medicare for the cost of the drugs. The premiums cover profits, overhead, administration costs. The bill for taxpayer is 50 billion a year. If the seniors were allowed to carry only catastrophic drug and were allowed to buy their drugs overseas, everyone would save money, a lot of money.I use to think the same thing about the Medicare Drug program. However, Medicare does not directly offer the Drug program. It is offered by insurance companies. The insurance companies make deals with the pharmacy chains or drug manufactures to lower the price of the drugs. The big cost items are the brand name drugs. Since brand drugs are unique, I don't see how Medicare could bid them. Generic drugs, yes but not brand names.Just because americans want to keep medicare intact (which is something we all need, healthcare), does not mean they are opposed to spending cuts. We could competitive bid the drugs consumed under medicare part D instead of the sweetheart deal the repubs gave big pharma (pay list price for drugs under medicare part D). The public wants to cut spending by being more efficient, not by killing programs.
I completely agree the public will support cost reductions in Medicare, but not major reductions in it's functionality.
Don't make it sound so noble, hanging on the mantle of the 'free market' like that. The truth is that the insurance lobby wrote a sweet deal for congress to rubber stamp along for GW's John Hancock when Medicare 'D' was born where in the taxpayers bear all risk and the insurers bank the profits.
Meanwhile, the consumer gets confusion, frustration and paperwork - also good for the insurance bottom line. It's a win-win!