Medicare Modernization Act

Paper Summary:

The paper provides some background that sheds light on the factors and causes leading up to the Medicare Prescription Drug Improvement and Modernization Act where for the first time, prescription drug benefits were offered to senior and disabled Americans. The paper explores the nursing implications of the law that concern the incredible complexity of the prescription drug plans and the 'coverage gap', known as the donut hole, where patients left without coverage. The paper contends that the costs of the law outweigh its advantages.

From the Paper:

"For the first time ever, prescription drug benefits were offered to senior and disabled Americans. The Act gave seniors and other disabled Americans a prescription drug benefit card that allowed savings of 10-25% off the cost of medicine. It was estimated that this would save participants an average of at least $300 per year. As medical costs continued rising, this Act was not only necessary, but likely one of several Acts to follow in upcoming years as medical costs continue to be out of reach for many Americans, and 40 million Americans remain uninsured (Ganz, 2004)."

Sample of Sources Used:

• Academy Health Organization. (2007). Medicare Part D: Strengths and Weaknesses. Retrieved November 13, 2008, from http://www.hcfo.net/topic0807.htm
• Andrews, W. (May 9, 2006). Notebook: Medicare In Nursing Homes. Retrieved November 13, 2008, from http://cbsnews.com/stories/2006/05/09/notebook/main1604406.shtml?source=search_story
• Centers for Medicare and Medicaid Serivces. (2008). Prescription Drug Coverage. Retrieved November 13, 2008, from http://www.cms.hhs.gov/PrescriptionDrugCovGenIn/
• Citizen. (Apr. 18, 2002). Pharmaceutical Industry Ranks as Most Profitable Industry. Retrieved November 13, 2008, from http://www.citizen.org/pressroom/release.cfm?ID=1088
• Committee on Government Reform-Minority Staff. (February 2006). Medicare drug prices are increasing rapidly. Retrieved November 13, 2008, from http://oversight.house.gov/Documents/20060221102046-85441.pdf

More papers on Medicare Modernization Act:

• Term Paper # 127137 : "The Medicare Modernization Act"
• Research Paper # 95151 : "Medicare Prescription Drug Modernization Act"
• Essay # 74029 : "Medicare Reform"

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