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Washington, DC -- Today Congressman David Wu introduced legislation to provide America's seniors more time to choose a Medicare prescription drug plan.
"It is important that we give our seniors enough time to make this crucial health care decision," stated Congressman Wu. "My legislation is simply the right thing to do."
Many seniors and caregivers have asked they be provided more time to learn about the various plans offered under Medicare. Congressman Wu's legislation creates that opportunity. His legislation extends the enrollment period for Medicare prescription drug plans to December 31 of this year and eliminates any late enrollment penalties. Currently, the open enrollment period for coverage this year ends May 15.
Congressman Wu supported the creation of a prescription drug benefit under Medicare because it provides coverage to the 535,276 Medicare beneficiaries in Oregon, 53,700 of who are low-income and without any drug coverage.
However, while the benefit is a good starting point, Congressman Wu believes there is more to be done.
Congressman Wu also has legislation, the Medicare Prescription Drug Improvement Act (H.R. 1626) to do three things: allow for the legal reimportation of safe, lower-cost prescription drugs; allow the federal government to directly negotiate better drug prices; and close the gap or “doughnut hole” in prescription drug coverage between the initial coverage and the catastrophic limit.
BACKGROUND: The Medicare prescription drug bill, which was signed into law in December 2003, provides a prescription drug benefit for the first time since Medicare’s creation in 1965. The law assists low-income Medicare recipients through the elimination of or reduction of premiums, deductibles and co-pays. For seniors who participate and have prescription drug costs up to $2250, approximately one-half of that cost is covered. The bill also helps those Medicare recipients whose prescription drug spending exceeds the catastrophic limit of $5,100 per year. Medicare will pay for all of those costs.
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