MEDICARE PRESCRIPTION DRUG DISCOUNT CARD -- (House of Representatives - May 05, 2004)
(Mr. FRELINGHUYSEN asked and was given permission to address the House for 1 minute.)
Mr. FRELINGHUYSEN. Mr. Speaker, this week nearly 15.4 million seniors across the Nation are eligible to apply for a Medicare-approved prescription drug discount card. This is good news for older Americans, especially for those in my home State of New Jersey.
With the new discount card, over 300,000 more seniors in my State alone will be able to receive immediate medicine assistance. Most of the beneficiaries will save an average of between 10 and 25 percent off the retail price of their prescription drugs while low-income seniors will receive an additional $600 of Federal credit towards the purchase of their medicines.
With the passage of this new Medicare law last November, we ensured that New Jersey and other States were not penalized, especially for having a preexisting drug assistance program that, quite frankly, is one of the most comprehensive and generous in the country. As a result of our efforts, not only will seniors save on their prescription medicines as promised, but our State of New Jersey will save an estimated $4 billion over the next 10 years.