Medicare
The Medicare program provides important medical and hospital benefits to beneficiaries across Kentucky and the country. In fact, there are more than 40 million seniors and disabled individuals enrolled in the Medicare program. This number is only expected to grow as baby boomers begin retiring.
As a member of the Finance Committee, which has jurisdiction over the Medicare program, I have been able to work with my Senate colleagues on a number of Medicare initiatives, including payment rates for doctors, hospitals and other providers.
One of the most important changes to the Medicare program that I have worked on was the creation of the Medicare drug benefit. In 2003, Congress and President Bush took a major step to strengthen the Medicare program and added a prescription drug benefit for our seniors. I worked hard with my fellow Senate colleagues to create the best benefit possible for Medicare beneficiaries. Too many seniors struggled to afford their prescription drugs, and it was time for Congress to finally create this benefit.
Under this bill, Medicare began offering a voluntary prescription drug benefit to beneficiaries in 2006. Low-income beneficiaries receive additional assistance with their drug costs, and many beneficiaries are saving money on their drug costs each month. Medicare beneficiaries now have more choices in receiving Medicare, and many are choosing to use Medicare managed care plans.
Medicare faces serious financial challenges in the future, including increasing health care costs, increasing enrollment as baby boomers start to retire, and longer life spans of beneficiaries. I will continue working with my colleagues on the Finance Committee to ensure this vital program can meet its obligations to beneficiaries while also being on strong financial footing for years to come.
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