What's in Bush's Medicare reform bill?
WASHINGTON (CNN) -- President Bush on Monday signed into law landmark Medicare reform legislation that includes prescription drug benefits and has sparked a bitter fight between opponents and supporters.
Did president Bush lower Medicare drug premiums?
President Bush established competition among private drug plans, which contributed to a 40 percent decline in the actual average 2008 premiums for Medicare drug coverage compared to original estimates. Projected overall program spending between 2004 and 2013 is approximately $240 billion lower, nearly 38 percent, than originally estimated.
What has the President done for Medicare?
The President instituted the most significant reforms to Medicare in nearly 40 years, most notably through a prescription drug benefit, which has provided more than 40 million Americans with better access to prescription drugs.
What did President Bush do for the American healthcare system?
President Bush enacted policies to help Americans receive the care they need at a price they can afford and also infused transparency and innovation into the health care system.
Who is the President of the United States who congratulated on Medicare reform?
President Bush: 'Giving older Americans better choices'. President Bush is congratulated after signing the Medicare reform legislation on Monday at the DAR Constitution Hall in Washington. Watch CNN's "Larry King Live" for an interview with first lady Laura Bush at 9 p.m. EST Monday.
How much is the Medicare Modernization Act?
Backers say the $400 billion Medicare Prescription Drug Modernization Act will provide much-needed help for the nation's 40 million senior citizens to buy medications; critics say it is a giveaway to drug makers and insurance companies and a prelude to the dismantling of the program.
What is Medicare reform?
WASHINGTON (CNN) -- President Bush on Monday signed into law landmark Medicare reform legislation that includes prescription drug benefits and has sparked a bitter fight between opponents and supporters.
Who supported the lapse in the Drugs Act?
Dianne Feinstein, D-California, who supported the bill, said the lapse was a "major weakness in this bill.". "The theory is that private sector competition will drive down the cost of drugs," Feinstein said last month upon the bill's passage. "That may happen, or it may not happen. We need to watch that, and we will.
How long was the House vote on the stimulus bill?
Last month, the House passed the measure after Bush made late-night, last-minute phone calls asking members to support it. An unusually long three-hour vote was ended by GOP leaders at 6 a.m., after a 218 to 216 deficit flipped to a 220 to 215 victory.
How much money was robbed from Medicare to fund Obamacare?
Huckabee said, "$700 billion was robbed (from Medicare) to fund Obamacare.". It’s an old claim and an old figure. The law does reduce Medicare spending, but not in the way Huckabee suggests.
Why did private insurers run Medicare?
Under President George W. Bush, private insurers began to run a subset of Medicare plans with the idea that more competition produced lower costs. However, those plans grew to cost more than traditional Medicare, so the Affordable Care Act pared down the payments to private insurers.
Who was the governor of New Jersey who defended his plan to raise the retirement age and change benefits for Social Security and
Huckabee's provocative comment concluded a wonkish back-and-forth between him and New Jersey Gov. Chris Christie about entitlement reform. Christie defended his plan to raise the retirement age and change benefits for Social Security and Medicare, but Huckabee stressed that Uncle Sam was to blame.
Does Obamacare rob Medicare?
Obamacare doesn’t literally "rob" Medicare. But the Affordable Care Act does include provisions that reduce future increases in Medicare spending. In other words, the law slows down the rising costs of Medicare. It’s also important to note that the savings come at the expense of insurers and hospitals, not beneficiaries.
What is the coverage gap?
The coverage gap is the temporary limit on what most plans will cover for prescription drugs. For those with very high costs, Medicare will pick up as much as 95 percent of all prescription costs, for example, once they spend $4,050 of their own money in 2008. Medicare is providing extra help to low-income beneficiaries.
How much did Medicare pay in 2008?
The average premium that beneficiaries paid for a standard prescription drug benefit in 2008 was roughly $25 per month, nearly 40 percent lower than original estimates.
How many Americans have been helped by President Bush?
President Bush Has Modernized Medicare And Provided More Than 40 Million Americans With Better Access To Prescription Drugs. President Bush has helped Americans receive the health care they need at a price they can afford, while empowering beneficiaries to make their own decisions to best meet their health needs.
How does private sector competition affect Medicare?
Private sector competition has resulted in more innovation and flexibility in coverage. Under President Bush's Medicare Part D policy, private health plans compete by providing better coverage at affordable prices – helping to control the costs of Medicare by marketplace competition, not government price-setting.
Why did the President modernize Medicare?
The President modernized Medicare to focus more on preventive care. Part of modern, effective health care is recognizing that if diseases are caught early, effective treatment is more likely, increasing the potential to reduce both cost and suffering.
What is the average benefit value for Part D in 2008?
Beneficiaries with the standard benefit who enter the coverage gap will already have received an average benefit value totaling about $1,700 in 2008 because of Part D benefit.
Does Medicare pay for prescription drugs?
On average, Medicare will pay for more than 95 percent of the costs of prescription drugs for low-income beneficiaries. In April 2008, the Department of Defense announced the creation of the Armed Forces Institute for Regenerative Medicine (AFIRM), a new partnership among the Federal government, universities, and private companies.
How much did Medicare premiums decrease in 2008?
President Bush established competition among private drug plans, which contributed to a 40 percent decline in the actual average 2008 premiums for Medicare drug coverage compared to original estimates.
What did the President do to improve veterans care?
The President transformed the veterans health care system to better serve those who have sacrificed for our freedom. He instituted reforms for the care of wounded warriors, many of which were based on the recommendations of the Dole-Shalala Commission, and dramatically expanded resources for mental health services. The President: 1 Increased funding for veterans' medical care by more than 115 percent since 2001 and committed more than $6 billion to modernize and expand VA medical facilities, ensuring more veterans could receive quality care close to home. 2 C reated a joint Department of Defense/VA Recovery Coordinator Program for seriously-injured service members. 3 I nitiated a pilot program to replace the cumbersome system of two separate disability examinations with a single, comprehensive medical exam. 4 Expanded training, screening, and staff resources to help service members and veterans suffering from mental health disorders. 5 Provided more than $1 billion to VA since 2007 to support traumatic brain injury and post-traumatic stress disorder treatment and research. 6 Created the Defense Centers of Excellence for Psychological Health and Traumatic Brain Injury and expanded VA's polytrauma system of care to 22 network sites and clinic support teams to provide state-of-the-art treatment to injured veterans at facilities closer to their homes. 7 Expanded VA's use of electronic health records to improve the quality of medical care for veterans.
How has Medicare improved the quality of health care?
Improved the quality of health care for Medicare beneficiaries by adding preventive screening programs to help diagnose illnesses earlier. Increased competition and choices by stabilizing and expanding private plan options through the Medicare Advantage program, and increased enrollment to nearly 10 million Americans.
Why did the President create tax free health savings accounts?
The President also created tax-free Health Savings Accounts to help Americans take charge of their health care decision-making, and increased funding for medical research , which contributed to medical breakthroughs such as the development of the HPV cancer vaccine.
How much did Bush borrow from Social Security?
A Facebook posts says, "Bush ‘borrowed’ $1.37 trillion of Social Security surplus revenue to pay for his tax cuts for the rich and his war in Iraq and never paid it back."
When did the Social Security trust fund stop running?
During his presidency, the Social Security trust fund was still running surpluses (which stopped in 2010), enough to cover the benefits checks, and had no need to cash in their bonds (which won’t happen until 2020).
When did Social Security pay as you go?
Bonds, ‘borrowing,’ and Bush. For about 50 years, Social Security was a "pay-as-you-go" system, meaning annual payroll taxes pretty much covered that year’s benefits checks. Then in 1982, President Ronald Reagan enacted a payroll tax hike to prepare for the impending surge of retiring baby boomers, and a surplus began to build.
Was the Bush tax cuts possible without the surpluses?
Smith, a self-described progressive, told us in an interview that the tax cuts wouldn’t have been possible without the surpluses funded by payroll taxes.
