Thursday, August 19, 2010

Filling The Medicare Doughnut Hole

A Medicare recipient who spends $2,830 on prescription drugs this year will hit the dreaded "doughnut hole" and then will have to spend $3,610 out of pocket before any help from the federal government kicks in again. So, the $250 check Uncle Sam is sending to victims of the doughnut hole probably seems like the proverbial drop in the bucket.

Yet the $250 checks that have gone out to 750,000 Medicare Part D participants since June - and another 3 million expected to go out over the course of the fiscal year - are a small but positive sign that someone in Washington has finally recognized the legislative folly of the Medicare Reform Act of 2003, the legislation that established Medicare prescription coverage for the elderly, including some 300,000 Floridians.

Specifically, it is the first step toward eliminating the doughnut hole altogether, but not before 2020. The doughnut hole was written into the Medicare Part D legislation as a gift for big pharmaceutical companies and to keep down the costs of the massive program, despite the hardship it caused millions of senior citizens with large medication needs.


Source and More:
http://www.theledger.com/article/20100819/EDIT01/8195026/1036?Title=Filling-The-Medicare-Doughnut-Hole

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