One way I have worked to address this issue is through the recently enacted Medicare Prescription Drug, Improvement and Modernization Act (MMA) which I supported. The new law for the first time establishes a prescription drug benefit for Medicare beneficiaries. The new benefit will save many seniors a significant amount of money off the cost of their prescription drugs as well as provide catastrophic coverage. This will ensure that no Medicare beneficiary goes bankrupt as a result of their prescription drug costs.
The MMA also created Health Savings Accounts (HSAs). The goal of HSAs is to give Americans more choice and greater flexibility with their health insurance. HSAs allow individuals with a high deductible health insurance plan (at least $1,000 for self-only and $2,000 for family) to deposit money into those accounts on a pre-tax basis and to withdraw the money tax free to pay for medical expenses. Individuals who are at least 55 years of age but not yet 65 can contribute more and unused balances are allowed to be carried over from year to year.
I have also been a strong advocate for the expansion of community health centers because they fill a much-needed gap in the country’s health safety net for low- and middle-income households. As Chairman of the Energy and Commerce Subcommittee on Oversight and Investigations, I held a hearing examining ways to maximize the effectiveness of federal grant dollars used for community health services, whether Medicaid and Medicare can play a role in helping community health centers better respond to growing health challenges, and ways to better incorporate community health centers as part of the America’s medical and health networks. I was honored that the National Association of Community of Community Health Centers recognized me as their 2006 Distinguished Health Champion for my efforts to improve health care access to medically underserved populations.
I also support efforts to help small businesses provide health insurance to their employees. Employers with 10 or fewer employees has a difficult time finding affordable insurance. I support legislation to allow small businesses to group together with other small businesses for the purpose of purchasing health insurance. This will lower the cost of health insurance for employers and employees and enable many small businesses to offer health insurance for the first time.
In addition, I support legislation to reform our medical malpractice laws to stop frivolous lawsuits and ensure we continue to have access to physicians. As you know, the increasing cost of malpractice insurance as a result of frivolous lawsuits spurs many doctors to pursue defensive medicine to guard against such lawsuits. This practice also contributes to the rise in health care costs. The rising cost of medical malpractice insurance is having a devastating effect on Kentucky because many doctors are relocating to states that have enacted medical malpractice reform. Finally, there are several proposals ranging from vouchers to health insurance tax credits which will help people with no health insurance purchase a plan. .
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