tci Medicare Compliance & Reimbursement - 2003 Issue 23

Pharmaceuticals: Senate Finance Produces Bipartisan Rx Plan

Senate Finance CommitteeChair Chuck Grassley (R-IA) and ranking Democrat Max Baucus (DMT) unveiled a Medicare drug package June 5, and hope to gain panel approval of the legislation June 12. Under the plan, all beneficiaries who voluntarily signed up would get an equal drug benefit. In traditional Medicare, private plans would compete to provide drug-only coverage. In any area where two private drug-only plans did not materialize, the federal government would provide guaranteed federal fallback coverage through a contractor. A new program, MedicareAdvantage, would incorporate and strengthen the current Medicare+Choice program and add new options - preferred provider organizations...

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