Government Entreated To ‘Haggle’ To Save Money For Medicare

by Medindia Content Team on  April 5, 2007 at 10:45 AM Health Insurance News
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Government Entreated To ‘Haggle’ To Save Money For Medicare
According to a report by a progressive policy group in the U.S, the government could pocket a savings of 30 billion dollars if it goes about some bargaining , with drug companies supplying to Medicare.

Based on information from the Center for Economic and Policy Research, the group: Campaign for America's Future, says that the savings from cheaper prices could be diverted to either enhance coverage or pay for other health care programs.

Under the current benefit, called Part D, Medicare offers voluntary prescription drug coverage through dozens of private health insurance plans but is not allowed to intervene over prices.

Yet, the clash in thoughts by the Democrats and Republicans is that while the former supports this idea, stressing that permit for the government to negotiate would ensure they get the best deal possible, the Republicans, along with the pharmaceutical industry and other opponents say that such a move would limit patient choices. In addition, Medicare officials also say drug coverage already costs less than expected.

Source: Medindia
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