Obama Closes Medicare Loophole

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By Adam Bagni

THE PRESIDENT CLOSES A GAP IN IN MEDICARE DRUG BENEFITS.

DRUG COMPANIES WILL NOW SPEND EIGHTY-BILLION DOLLARS OVER THE NEXT DECADE TO REDUCE THE BURDEN FOR SENIOR CITIZENS.

RIGHT NOW, UNDER "MEDICARE PART-D", THE AGENCY PICKS UP 75 PERCENT OF DRUG COSTS UP TO 27-HUNDRED DOLLARS... AFTER DEDUCTIBLES.

MEDICARE DOES NOT START ANY REIMBURSEMENTS AGAIN UNTIL COSTS HIT JUST OVER SIX THOUSAND DOLLARS.

THIS MEASURE PAYS FOR PART OF THE DIFFERENCE.

OBAMA says: "Medicare beneficiaries whose spending falls within this gap will now receive a discount on prescription drugs of at least 50 percent from the negotiated price they're paying -- their plan pays. It's a reform that will make prescription drugs more affordable for millions of seniors and restore a measure of fairness to Medicare Part D."

THE PRESIDENT IS SCHEDULED TO HOLD A TOWN HALL MEETING ON HEALTH CARE TOMORROW AT THE WHITE HOUSE.

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