Location: The Heritage Foundation's Lehrman Auditorium
What is the truth about the Medicare Drug Discount Card? It goes
into effect next month. Yet some members of Congress are
criticizing it, even before it gets off the ground. They say it is
confusing, and that the savings from the drug discounts will be
minimal. But initial research findings project an average savings
of 17.4 percent over current retail drug prices. And for poor
seniors, the program provides for a $600 annual subsidy for drug
purchases, reducing out of pocket drug costs even more. Should the
program, now set to end in 2006, be made permanent? Is it a better
deal for seniors than the Medicare entitlement, scheduled to
replace it? Can seniors really save money? Can it control Medicare
drug costs? Can it be improved? Can its price transparency serve as
the foundation for a real consumer revolution in health care,
expanding personal freedom and control for the Baby Boomers?
Robert E. Moffit, Ph.D.