Thursday, August 17, 2006

POLITICS - Report On American Consumer Rip-Off

"Drug Companies Making Billions in Excess Profits Under Medicare Plan" by Lynn Erskine, Center for Economic and Policy Research

This article includes a REPORT by the Center for Economic and Policy Research, and goes on....

Thousands of drugs cost more than necessary under the Medicare drug plan because Congress prohibited Medicare from negotiating drug prices directly with the pharmaceutical industry, as is done by the Veterans Administration. In the case of many drugs, the prices paid by insurers participating in the plan are more than twice as high as the prices paid by the Veterans Administration.

Millions of seniors and disabled Americans enrolled in Medicare Part D drug plans are discovering the "doughnut hole" - the $2,850 gap placed into the plan in order to save the government money. The Center for Economic and Policy Research has pointed out that this gap was only necessary because the plan's overall design added significant costs and complexity.

More evidence the the GOP congress who passed this law are in the back pockets of pharmaceutical companies. After all, it would unethical to "steal" their profits in the name of consumer savings. NOT

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