Monday, January 30, 2006

Now we know why Medicare Part D won't break the bank.

As reported by the NY Times, there wont be anyone left to use it.
"In response to the new premiums, some beneficiaries would not apply for Medicaid, would leave the program or would become ineligible due to nonpayment," the Congressional Budget Office said in its report, completed Friday night. "C.B.O. estimates that about 45,000 enrollees would lose coverage in fiscal year 2010 and that 65,000 would lose coverage in fiscal year 2015 because of the imposition of premiums. About 60 percent of those losing coverage would be children."

The budget office predicted that 13 million low-income people, about a fifth of Medicaid recipients, would face new or higher co-payments for medical services like doctor's visits and hospital care.

It said that by 2010 about 13 million low-income people would have to pay more for prescription drugs, and that this number would rise to 20 million by 2015.

"About one-third of those affected would be children, and almost half would be individuals with income below the poverty level," the report said in addressing co-payments for prescription drugs.
And the kicker.
About 80 percent of the savings from higher cost-sharing would be due to decreased use of services.
Imagine, a Potters Field as big as Forest Lawn.

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