Historic Health Care Reform Law Will Reduce Costs, Add Services for America's Seniors
Press Release
U.S. Sen. Frank R. Lautenberg (D-NJ) today highlighted the benefits for seniors in the historic health care reform law that was signed yesterday by President Barack Obama. Lautenberg voted to approve the law when it was considered in the Senate in December and joined the President for the bill signing at the White House yesterday.
"This law prioritizes America's seniors by making drugs and services more affordable and accessible," stated Lautenberg. "Closing the unjust prescription drug donut hole and providing free preventive care for Medicare beneficiaries will improve the quality of life for America's seniors. This law will also cut wasteful overpayments to insurance companies and extend the program's solvency for the benefit of America's seniors."
The 2005 Medicare prescription drug benefit law contains a gap in coverage known as the "donut hole." The "donut hole' can affect seniors on Medicare once their drug expenditure reaches $2,700 in a given year. In those cases, a senior's coverage could completely stop for the year, leaving the senior to have to pay the full price of the prescription drug. The new health care reform law would close this gap in coverage that Republicans included in the 2005 Medicare prescription drug law.
Seniors will benefit from the following provisions in the new law:
* Closes the Medicare Part D prescription drug coverage gap, also known as the "donut hole."
* Provides seniors with preventive care services at no cost.
* Protects and strengthens Medicare by eliminating waste and fraud and ending overpayments to private insurance companies.
* Extends the solvency of the Medicare Trust Fund.
The new health care law is supported by American Association of Retired People (AARP), the National Committee to Preserve Social Security and Medicare, the American Association of Homes and Services for the Aging, the National Senior Corps Association, the National Council on Aging, Medicare Rights Center, the American Society on Aging and other senior care and advocacy groups.
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