Author Topic: The Obama Administration's About-Face on Medicare  (Read 164 times)

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Offline happyg

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The Obama Administration's About-Face on Medicare
« on: March 12, 2014, 11:48:41 AM »
Amy Payne

The Obama administration seems determined not to rock the boat before the midterm congressional election this fall.

It’s already delayed Obamacare mandates that could cause outrage. Now it has stopped proposed Medicare changes that weren’t even part of Obamacare—and with good reason.

The administration had proposed new rules for seniors’ prescription drug plans in Medicare Part D. This is significant because Part D is unusual for a government program:

•People love it. Nearly 90 percent of beneficiaries are satisfied with their plans.
•It’s cost-effective. The program’s cost is running 48 percent LOWER than originally estimated, and seniors’ premiums have been impressively stable.
•It showcases the success of competition. Medicare is unwieldy and needs reform—and adding the prescription drug benefit expanded the program’s reach. But the reason it has worked better than expected is that privately run plans are competing for seniors’ business.

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