Drug Companies To Cut Drug Costs For Seniors, Aid Obama’s Health Care Reform Plan

Posted by Staff on June 22, 2009 |

President Barack Obama announced an agreement between the administration and pharmaceutical companies Monday to lower the cost of medication for Medicare recipients.

The agreement seeks to eliminate the so-called “doughnut hole”, in which Medicare only covers prescription drug costs up to $2,700 annually and again when drug costs exceed $6,154 a year, but not the costs landing between the two benchmarks.

Through the agreement, pharmaceutical companies will provide $80 billion to lower the costs of medication for Medicare recipients over the next ten years.

“Drug and insurance companies stand to benefit when tens of millions more Americans have coverage. So we’re asking them, in exchange, to make essential concessions to reform the system and help reform costs,” said Obama. “It’s only fair.”

June 22, 2009
« Voting Rights Act Under Serious Scrutiny By U.S. Supreme Court
Obama: Health Care Reform Will Benefit Drug Companies »
Both comments and pings are currently closed.

Comments are closed.

Categories

Related


Latest Audio

  • Labor Secretary Recalls Helping Undocumented Students Go To College
     
    icon for podpress Play Now
  • GOP Leaders Look To Suade Moderate Democrats On Health Care Vote
     
    icon for podpress Play Now
  • Democrats’ Health Bill One Great Big Ponzi Scheme, Says Thune
     
    icon for podpress Play Now
  • Senate Democrats Employ ‘Gimmickry’ To Keep Health Bill Below $900 Billion
     
    icon for podpress Play Now

Happening Now - TRNS on Twitter