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Committee on Ways and Means For Immediate Release Republicans Safeguard Medicare; Program's Outlook Improved Thomas Calls for Greater Competition to Bring Down Future Health Care Costs WASHINGTON -- Ways and Means Committee Chairman Bill Thomas (R-CA) has called for greater competition in the Medicare system in the wake of yesterday's annual report by the Social Security and Medicare Trustees. "Responsible protections enacted by Congress have strengthened Medicare's future. Despite allegations by Democrats that last year's tax cut endangered the solvency of Medicare, the Hospital Insurance (HI) trust fund balance has improved over last year and the short-term outlook is strong," Thomas noted. "But Medicare spending is still expected to far outpace economic growth, and this means the long-term problem remains," Thomas said. "We still need to modernize and strengthen Medicare, and increased competition will allow us to improve benefits and add prescription drug coverage for seniors, while keeping costs down." "It is a positive step that the Trustees consolidated Medicare Part A and Part B for this year's report. But Congress needs a better measure of all of Medicare's spending obligations and revenue projections to accurately capture the program's health," Thomas added. |