| WASHINGTON, D.C. – U.S. Representative Marion Berry (D-AR, 1st) announced today that a prominent research organization released a study on the cost of the Part D Prescription Drug Plan. The study showed the government would save $40 billion a year if just half of all eligible Medicare beneficiaries enrolled in the benefit proposed by Congressman Berry's Medicare Prescription Drug Savings and Choice Act. The groundbreaking study comes at a time when seniors are growing increasingly disgruntled with the President's benefit and are encouraging their elected leaders to pass immediate reform.
"This report is proof that we have the answer out of this mess," said Congressman Berry. "By establishing a reliable Medicare-run plan, we not only give seniors an option they can trust, but we can drive down the deficit by billions of dollars a year. This approach certainly beats cutting billions of dollars out of programs that help hard-working families."
The report, released by the Center for Economic Policy Research, found that Congressman Berry's plan to establish a voluntary drug benefit under Medicare would save the government at least $40 billion a year if half of all beneficiaries participated in the Medicare-administered plan. The savings would come from lower drug prices through price negotiation and lower administrative costs. The report also found that specific provisions in the current Medicare benefit inserted by Republican leaders to please the pharmaceutical companies will actually cost taxpayers and seniors more than $80 billion a year.
With current enrollment estimates falling far short of what the President and Republican leaders hoped for, support is building in Congress to make Medicare Prescription Drug reform a top priority. Although the President originally expected 40 million seniors to enroll in the program, recent estimates show only 9.8 million seniors have registered and an additional 16.2 million were either automatically enrolled or receive coverage through their employer. House Democrats, key consumer groups, and a number of senior advocacy organizations are all supporting Congressman Berry's legislation as the leading plan for reform.
"I hope this report serves as a wake-up call for our Republican leaders in Washington," said Congressman Berry. "It is time for them to admit a horrible mistake, and work together in a bipartisan way to pass a Medicare benefit that seniors can afford and trust."
The Senate Assistant Majority Leader, Richard Durbin (D-IL), has introduced companion legislation in the U.S. Senate. |
