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True Costs of the Majority's Medicare Plan

May 26, 2011
Floor Statement

Mr. Speaker,

My colleagues across the aisle have recently claimed that current seniors won't be impacted by their plan to end Medicare as we know it.  This simply is not true.  From day one their plan will force seniors to pay more for prescription drugs and health services because the donut hole will be reopened and free wellness visits under Medicare will be eliminated.

As a consequence of reopening the donut hole, in my state of New Jersey alone, an estimated 142,800 seniors would pay $80 million more for prescription drugs in 2012.  Additionally, the majority's plan to rescind the ban on co-pays for wellness visits for seniors would force at least 29,800 New Jersey seniors to pay over $3.1 million more for annual wellness visits next year.

Once the plan takes full effect in 2022, out-of-pocket expenses for seniors will soar.  A typical 65 year-old in New Jersey will pay $7,060 per year in 2022 for health care costs- more than double the cost under current law.

Mr. Speaker, the majority's plan for Medicare does not preserve the program as we know it, rather it takes money from seniors' pockets and places them at the mercy of rising insurance costs.