| Despite a wonderful range of speakers and brilliant spoken words at the Democratic National Convention I saw via CNN yesterday, Kennedy [our senior statesman], Dean [hard core -- I wish he took more time to speak] and our fan-effing-tastic Teresa Heinz Kerry [I was applauding and grinning at her from home as goofily as the faces in the audience was -- but she couldn't hear me], I'm really disheartened to have been hit the same day with Bushy's stooooo-pid hack job or a medicaire mess. This e "American Action Progress Fund" sums it up very dain-bramaged and cognizance-imapaired friendly way [please note: the bullets are not my words, but part of the email I received]: MEDICARE
Money for Nothing But The Drugs Aren't Free "Sen. Ted Kennedy (D-MA) - a longtime advocate for a meaningful prescriptiondrug benefit - is expected to address Medicare and health care issues in his speech to the Democratic National Convention tonight. His address is well timed: yesterday, the Bush administration released 1342 pages of proposed regulations for the final prescription drug benefit which takes effect in 2006. Despite their length, the regulations conveniently defer many important decisions until after a 60-day comment period. -->One thing that is clear: while the prescription drug benefit will be a boon to some large corporations, many American seniors may see their existing prescription coverage reduced or eliminated. Those who do enroll in the Medicare prescription drug program will be slapped with considerable costs when they can least afford it. (And will they continue to have catastrophic care?? LKW) REWARDING COMPANIES FOR REDUCING DRUG COVERAGE: Starting in 2006, the new law will enable large corporations to collect massive government subsidies even if they significantly rollback their retiree prescription drug benefit. The new regulations make corporations eligible for government subsidies of up to $940 per retiree as long as they provide drug coverage that mimics the Medicare drug law. The proposed rules give companies four different ways for companies to demonstrate they are doing so. -->But most companies already provide drug coverage which is superior to the new Medicare benefit. Thus, companies could collect the subsidy even as they roll back coverage - at a total cost to taxpayers of $89 billion over ten years!! MAJOR BUSH CONTRIBUTORS PROFIT HANDSOMELY: Some of the corporations that benefit most are major contributors to President Bush, who aggressively lobbied for the bill's passage. For example, General Motors - whose executives have donated more than $110,000 to Bush's presidential campaigns (versus $9,000 to John Kerry) - estimates that the new Medicare law will be worth $4.1 billion to the company. Similarly, Excel Energy - whose executives have donated more than $22,000 to Bush's presidential campaigns (versus $500 to John Kerry) - expect to save $64 million. ADMINISTRATION TELLS SENIORS TO STOP COMPLAINING: While the administration found plenty of cash for corporations, many seniors with high drug costs will be left in the lurch. After paying an average of $420 in premiums and a $250 deductible, seniors are still responsible for paying up to 25% of their drug costs up to $2,250 a year. But seniors with drug costs in excess of $2,250 a year, even though they will continue to pay premiums and have satisfied their deductible, will receive no assistance whatsoever for their next $2850 in prescription drug costs. This gap, known as "the donut," has many seniors justifiably concerned about their ability to pay their drug bills in the event of a serious illness. -->But Health and Human Services Secretary Tommy Thompson dismissed their concerns saying "Only a pessimist would look at a doughnut and complain about a hole." SOURCE: From today's American Action Progress Fund
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