Monday, March 27, 2006

Drug Benefit Will Cost Arkansas Taxypayers $8.8 Billion

A new report released by the Institute for America's Future shows that Arkansas taxpayers will spend $8.8 billion over the next decade because of specific provisions inserted in the Republican-passed Medicare Part D Prescription Drug benefit at the request of pharmaceutical and insurance companies.

Click here to read the full report.

This report only reinforces the need to pass legislation like my bill, H.R. 752, which would create a Medicare-administered drug plan and require the Secretary of Health and Human Services to negotiate for lower prices on behalf of all the seniors enrolled. This would cut seniors prescription drug bills by as much as 40% and prevent the pharmaceutical and insurance companies from having complete power over this benefit.