Bush unveils Medicare drug plan
George W. Bush unveiled a two-part Medicare prescription drug benefit plan on Tuesday. The plan proposes an immediate infusion of federal money to fund state programs that subsidize drugs for low-income senior citizens and a longer-term restructuring of the Medicare program that includes prescription drug benefits.
Speaking in Allentown, Penn., Bush said that if elected he would "fast-track" legislation to provide $48 billion over four years to states to help low income senior citizens purchase prescription drugs. This money would be used to cover the full costs of prescription drugs for seniors with incomes at or below 135 percent of the poverty level, cover "most" of the drug costs for seniors with incomes up to 175 percent of the poverty level, and pay 25 percent of drug costs for senior citizens in higher income brackets. In addition, all drug costs for Medicare recipients in excess of $6,000 per year would be covered by the plan, Bush said. ...