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Publication Date: May 2003
Publisher: Families USA
Author(s):
Research Area: Health
Type: Brief
Abstract:
Under the President' s announced "Framework for Prescription Drug Legislation," prescription drug coverage would vary dramatically between traditional Medicare and private plans. Beneficiaries choosing to stay in traditional Medicare would only receive assistance once their prescription drug needs reach catastrophic levels. They would have to spend at least $4,000 -- and possibly as much as $7,500 -- before they would receive a single dollar of assistance. The only way beneficiaries can get better coverage for prescription drugs is to join private managed care plans.