Medicare Prescription Drugs

Paper Summary:

This paper analyzes the Medicare Prescription Drug and Modernization Act of 2003 in the USA. This paper shows that the aim of these reforms is to balance the government's need to protect Medicare recipients and save money, with recipients' needs to receive appropriate treatment. But, as this paper reflects, the need for government intervention in the pricing of pharmaceutical drugs is now a heated debate.

From the Paper:

"In recent years, the high cost of medical care in the United States has led to new and heated debate about the need for government intervention in the pricing of pharmaceutical drugs. Pharmaceutical spending has increased perhaps the most of all health care costs, marking about 11% of total health care spending in 2002. That same year, prescription drug spending increased a substantial15%, while other health care spending increased only 9 percent (Kaiser Family Foundation).
Government intervention in the area of pharmaceutical drugs increased with the passage of H.R. 1, The Medicare Prescription Drug and Modernization Act of 2003. The Act was passed on December 8th of 2003, and established a voluntary prescription drug benefit under Medicare. In addition, the Act requires an "initial preventive physical examination", and covers a variety of tests, including those for prostate and colorectal cancer, and diabetes. In addition, mammography, pap smears, and vaccinations are covered, among other services (Office of Legislative Policy and Analysis). "

More papers on Medicare Prescription Drugs:

• Research Paper # 95151 : "Medicare Prescription Drug Modernization Act"
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• Analytical Essay # 149359 : "Prescription Drug Coverage Insurance Planning"

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