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“ Democratic priorities are clear: we will fight to get the economy back on track, we will create jobs, and we will help unemployed workers. ” |
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Pelosi: ‘New Medicare Prescription Drug Cards a Bad Deal for Seniors’
Washington, D.C. -- House Democratic Leader Nancy Pelosi and Congressmen Henry Waxman (D-CA) and Marion Berry (D-AR) joined seniors to discuss the new Medicare prescription drug discount cards. They were joined by Barbara Kennelly, President of the National Committee to Preserve Social Security & Medicare, Ed Coyle, Executive Director of the Alliance for Retired Americans, and dozens of senior citizens. Below are Pelosi’s remarks:
For more information about the drug discount cards, please visit Leader Pelosi's Drug Discount Cards & Drug Reimportation online resource center at http://www.democraticleader.house.gov/rxdrugs.
On Capitol Hill Monday, House Democratic Leader Nancy Pelosi talked with seniors about the limitations of the new Medicare prescription drug cards.
"Beginning today, seniors can purchase a prescription drug discount card that the Bush Administration claims will save them up to 25 percent on the cost of their medications.
"Like the new prescription drug bill itself, however, this sounds like a good deal, but it isn’t.
"Just like the President’s drug bill, the big drug and insurance companies control what discounts seniors will get and how much they will pay. Many seniors will not be able to save on their medications when they use these cards. My colleagues will explain why.
"These cards are so complex that experts think it will take more than two hours of individual counseling to explain the card and how much seniors will save. Right now, seniors can have multiple discount cards, allowing them to maximize their savings for each drug they take. But under the new law, seniors and people with disabilities will only be allowed to sign up for one card a year. Once you pick a card, you cannot change your mind.
"Who can change their minds? The drug companies who offer these cards can change the drugs they cover and the discounts they provide every week. You can change your mind only once a year, but they can change the drugs and the discounts every week. That’s a bad deal for seniors, but a good deal for the drug companies.
"Cards are expected to offer discounts, but there is no minimum discount that guarantees savings for seniors. Drug companies have already begun increasing their prices so that they can offer ‘discounts’ without losing a dime in profits. It is just like the store that marks up its goods right before a sale. In the end, seniors pay more. That’s a bad deal for seniors, but a good deal for the drug companies.
"I want to make two further points before I bring on our distinguished speakers. In the Senate, there’s a move to have at least a 30-day grace period once seniors sign up. They should at least have 30 days to say: 'It isn’t what I thought it was and I will change.' Now, mind you, that doesn’t make this that much better in terms of the basic deal for seniors. It’s a bad deal for seniors. But in a spirit of fairness, you would think they would at least allow seniors a chance to change their minds when they sign up for this.
"And just one other thing, because this was in the paper this morning. I’ll just read it straight from the Wall Street Journal: 'On Friday, the day after the site was launched, card sponsors said the Web site included inaccurate price information and the government should take it down and fix the problems before enrollment officially begins today. For seniors who enroll, the drug cards are expected to provide savings of an average of 10 percent to 20 percent, but the discounts could vary depending on the card and drugs used.'
"They have already put the wrong information up on the Web site. I told you it was complex, that it would take a long time. They haven’t even gotten it right themselves.
"A person who does have it right is our distinguished Congressman from California, the Ranking Member of the Government Reform Committee, a real champion for America’s seniors, Henry Waxman."
“ Democrats are united in presenting a New Direction for America, one that will make our nation as strong as its people, one that brings opportunity, security, and prosperity to all Americans. ”
Democratic Leader Nancy Pelosi
