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Committee on Ways and Means
 

For Immediate Release
Contact: Press Office 202-225-8933
July 3, 2002

WASHINGTON - Ways and Means Chairman Bill Thomas (CA-21) hailed the House passage of H.R. 4954, the Medicare Modernization and Prescription Drug Act of 2002, to strengthen Medicare and provide immediate savings on prescription drugs for seniors. The bill passed on June 28, 2002 by a vote of 221-208.

“For the first time under Medicare, seniors will be offered a comprehensive prescription drug program. The fact of the matter is it is long overdue and it needs to be part of the basic program,” said Thomas. “In addition, we improved payments to providers who are taking care of Medicare beneficiaries to ensure that beneficiaries continue to have access to high quality health care from doctors and hospitals. It all works together - no single provision is separate from the others.”

The bill concentrates on four areas: Lowering costs of prescription drugs now; guaranteeing all senior citizens prescription drug coverage under Medicare; improving Medicare with more choices and savings and strengthening Medicare for the future. The Republican plan offers:

• Immediate savings through a prescription drug savings card;
• A premium around $33 per month, roughly $1 a day;
• Eighty percent coverage for seniors spending $250 - $1,000 per year;
• Fifty percent coverage for seniors spending $1,001 - $2,000 per year;
• Complete catastrophic coverage for those spending over $3,700 per year;
• Extra assistance for low-income seniors, including a fully subsidized premium and cost-sharing;
• Saves seniors $18 billion over ten years from pharmaceutical manufacturers by giving seniors lower prices on their prescription drugs and
• Greater plan choices and flexibility for senior empowerment.

“The majority in the House are committed to making Medicare a better program,” said Thomas. “I urge Leader Daschle to move quickly on this bipartisan legislation.”