November 10, 2003
Seniors eagerly waiting for Congress to pass a Medicare prescription drug benefit bill may as well relax. It's not likely to happen this year. Congress plans to adjourn by Nov. 21 and with the measure deadlocked by deep ideological divisions, there's little hope of passage before then.
The bill has few mourners. Many senior organizations that just a few months ago were hotly supporting a Medicare prescription drug benefit have either fallen silent or openly urged defeat of the measure now in conference committee.
"The only people who want this bill are the private insurance companies who stand to receive billions of dollars in government subsidies, and the pharmaceutical industry which can expect to reap additional profits of at least $139 billion over eight years." said Edward F. Coyle, Executive Director of the Alliance for Retired Americans, an AFL-CIO affiliated.
Sen. Jack Reed, a Rhode Island Democrat, called the measure "the greatest bait-and-switch scheme the Republic has ever seen." He said the bill holds out the promise of new drug benefits but in fact would privatize Medicare and cap sepnding.
Other Senate Democrats said the bill would "bribe" seniors to join private health plans, while increasing premiuims for traditional Medicare and jeopardizing health benefits already paid to millions of retirees by their former employers.
Republican leaders accuse the Democrats of obstructionism and insist the measure will be passed before adjournment.
