Wednesday, Jun 22 2011 3:58PM
Senator Jeff Bingaman of New Mexico helped introduce a bill that could help low-income seniors who receive medicine through Medicare.
Senator Jeff Bingaman of New Mexico helped fellow Senator Jay Rockefeller of West Virginia introduce a Medicare bill in Washington, D.C. that could save taxpayers $112 billion over the next decade.
The proposal, called the Medicare Drug Savings Act of 2011, would mandate prescription drug manufacturers offer discounts to low-income patients who get medications through Medicare.
Currently, drug manufacturers provide rebates for prescriptions to Medicaid beneficiaries. However, prescription medications offered through Medicare Part D don't have any discounts.
"There is a lot of talk in Washington about how to cut Medicare costs without harming health care. This is one obvious way," said Bingaman. "The Medicare Drug Savings Act would save $112 billion over the next decade, which will help to strengthen Medicare."
Rockefeller stated the bill is a better alternative to dismantling the current structure of Medicare, and should provide necessary aid to low-income seniors nationwide.
The legislation is currently being considered by the Senate Finance Committee.