“This plan is affordable, flexible, and voluntary,” Jones said.  “Currently, more than one million seniors in North Carolina receive Medicare coverage.  This plan would provide a voluntary option to help them manage the rising cost of prescription drugs. Nobody should ever have to choose between putting food on the table and the prescription drugs they need to live healthy lives.”

 H.R. 4680 would provide a new voluntary prescription drug benefit for Medicare beneficiaries.  The plan provides seniors the power to choose the right coverage from several competing prescription drug plans or to keep their existing coverage. The plan would also strengthen Medicare in order to protect seniors from high out-of-pocket drug costs, without resorting to price-fixing or government price controls.

The following provisions are included in H.R. 4680:
 

• Unlike Medicare+Choice, the Medicare Benefits Administrator is required to ensure access is guaranteed in every region of the country

• Lowers drug prices by an average of 25% and up to 39% through group purchasing power

• Provides catastrophic coverage and security by covering 100% of out-of-pocket drug costs beyond $6,000

• Provides comprehensive coverage for 5.5 million low-income seniors by covering 100% of premiums, deductibles and CO-pays.  

• Provides 35% discount on premiums for all enrollees

• Provides protections and guarantees to access for seniors in rural areas by ensuring convenient and emergency access to local “bricks and mortar” pharmacies 

• Guarantees a right to choose while protecting existing coverage

“For the first time, seniors can find relief from the high price of prescription drugs.  This bill will provide Medicare beneficiaries real bargaining power to lower their drug prices through group discount rates and pharmaceutical rebates. It is a good first step toward addressing the rising cost of prescription drugs that have threatened the retirement security of millions of seniors,” Jones said.