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Health care reform debate continues while health care costs continue to move higher. Our government officials debate how to pay for programs like Medicare and Medicaid and President Obama recently presented a proposal as part of a $4 trillion debt reduction plan to address our nations budgetary needs. The President believes that his plan will save approximately $340 billion in Medicare costs over ten years. Some estimates put the number even higher over a longer period of time. Some analysts contend that the Presidents proposal will trim close to $500 billion over the next 12 years. The President specifically stated that he planned to “cut spending on prescription drugs by using Medicare’s purchasing power to drive greater efficiency.” Obama is potentially looking towards directing drug companies to absorb more of the financial burden by having them dip into their profits to provide low income or disabled Americans who qualify for both Medicare and Medicaid with a rebate. Another reform option would be to model the prescription drug program, Medicare Part D prescription drug plans, after the prescription drug program that is employed for the Veteran’s Administration. The VA program is given the power to deal directly with the drug companies to negotiate best rates. Information and analysis pertaining to cost savings effectiveness relating to both of the above described reform options is being developed and will be made available for public review. The debate is heating up and future health care reform is the goal. Author: Genny Germano
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