Medicare Part D Plans
Many on the left criticize Medicare Part D because it consists of private drug plans that negotiate directly with drug makers rather than a government-run plan with price controls. Writing in the New York Times Room for Debate opinion pages, Grace-Marie Turner reminds us that Medicare Part D plans were originally estimated to cost $111.2 billion by 2009. Yet, the 2010 Medicare Trustees Cost Report put the actual cost in 2009 at $60.8 billion — 45 percent lower than the original estimates.
Competition works.
Does anyone remember all the Democrats tearing up their AARP cards in protest over Part D? They claimed it was a give away to vested interests. But where are they now?
Ken, yes. I remember.
Part D costs have gone down due to the elimination/restrictions on brand drugs and overutilization of generic drugs which are cheaper but in some cases less effective.
And all unfunded.
Steve
Can someone name another government health program that had lower than estimated costs years after enactment?