For Immediate Release
Office of the Press Secretary
November 22, 2003
President's Radio Address
Audio
THE PRESIDENT: Good morning. This week Congress made significant
progress toward improving the lives of America's senior citizens. The
House of Representatives passed legislation that would bring
prescription drug coverage to Medicare and lead to health care choices
for our seniors. This legislation, if also passed by the Senate, would
represent the greatest improvement in senior health care since Medicare
was enacted in 1965.
When these reforms take full effect, our seniors would see real
savings in their health care costs. Within six months, seniors would
be eligible for a drug discount card that would save them between 10
and 25 percent off the retail price of most drugs. When the full drug
benefit arrives in 2006, all seniors become eligible for drug coverage
for a monthly premium of about $35. For most seniors without coverage
today, the Medicare drug plan would cut their annual drug bills roughly
in half.
Seniors with the highest drug bills would save the most, and
seniors with the greatest need would get the most help. Low-income
seniors would pay a reduced premium, or no premium at all, for the new
drug coverage. And low-income seniors would also have lower
co-payments for their medicines.
Here is an example of how this benefit would work. A senior taking
drugs to treat arthritis, high cholesterol, and migraines has a typical
drug bill of about $250 a month, or $3,000 a year. With this
legislation, this retiree would save $1,680, after paying her insurance
premiums -- more than half her current drug costs.
Under the new reforms, seniors would have more choices of health
care coverage. Should seniors want to stay in traditional Medicare and
receive a prescription drug benefit, they would be able to do so. Some
seniors may want expanded coverage for extended hospital stays, or
protection against high out-of-pocket medical expenses. Or they may
want the coverage that comes with managed care plans. Under the new
law, all those choices would be available. With choice, seniors would
have more control over their health care options and health plans would
compete for the business with better coverage.
We're on the verge of success because of bipartisan leadership, and
because of the support of many advocates for seniors, including the
AARP. Throughout many months of discussion and debate, we've remained
focused on the clear objective -- to modernize and strengthen the
Medicare system. And by working together, we're close to meeting that
goal.
In the nearly 40 years since Medicare was launched, this is the
most significant opportunity for any Congress to improve health
coverage for our seniors. Now we're down to the final stages. This
Congress will decide whether or not seniors will have prescription drug
coverage under Medicare, and this Congress will decide whether
America's seniors will have better health care choices.
I urge all members of Congress to remember what is at stake, and to
remember the promise we have made to America's seniors. The quality of
their health care, and the future strength of Medicare depends on the
passage of this much needed legislation.
Thank you for listening.
END
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