by cepr
This report uses data from the Bureau of Labor Statistics Consumer Expenditure Survey from 2004 to 2006 as well as data from the Congressional Budget Office to analyze the savings in prescription drug spending for seniors as a result of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA). The results show that the 1st income quintile of seniors experienced a fall in the rate of expenditures for prescription drugs and the 2nd income quintile saw a slowing of the rate of increase in expenditures. However, senior households in the middle- and upper- income quintiles saw a rise in expenditures for prescription drugs.
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12/04/2008 |
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Nice reading, thank you. It was interesting to no notice that percentafe of income is coming up on the yearly basis! Yet really I felt this way but anyway, the stats proved my feelings.
It is a well-known fact that the Medicare Modernization Act (which created the precription drug insurance program) was mostly written by the pharmaceutical company lobbyists in Washington and that it prohibits Medicare from negotiating drug costs, which would greatly reduce the cost of the program to the taxpayers.
Medicare plans can be really confusing, especially those not comfortable with the internet. Take some time before the end of the year to talk to the seniors in your life about Medicare Part D and finding the right plan. Here's more information: http://newsinfusion.com/video_details...