Medicare Part D a Boon for Drug Companies, House Report Says (Nicole Gaouette)
Taxpayers pay up to 30% more for prescriptions under the privately administered program than under Medicaid, the House Committee on Oversight and Government Reform finds.
WASHINGTON -- U.S. drug manufacturers are reaping a windfall from taxpayers because Medicare's privately administered prescription drug benefit program pays more than other government programs for the same medicines, a House committee charged in a report Thursday.
The House Committee on Oversight and Government Reform found that taxpayers are paying up to 30% more for prescription drugs under Medicare's privatized Part D program for seniors and the disabled than under the government's Medicaid program for the poor.
"Medicare Part D has given the major drug companies a taxpayer-funded The House Committee on Oversight and Government Reform found that taxpayers are paying up to 30% more for prescription drugs under Medicare's privatized Part D program for seniors and the disabled than under the government's Medicaid program for the poor.
windfall worth billions of dollars," said committee Chairman Henry A. Waxman (D-Beverly Hills).
Waxman said he would introduce legislation to guarantee that federal taxpayers would not be charged higher prices under Medicare Part D than under Medicaid.
"This is an enormous giveaway. And it has absolutely no justification," he said.
Waxman said he would introduce legislation to guarantee that federal taxpayers would not be charged higher prices under Medicare Part D than under Medicaid.
"This is an enormous giveaway. And it has absolutely no justification," he said.
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- Date rangeFriday, July 25, 2008
- Last modifiedWednesday, November 06, 2013
