Stabenow Says There Are Other Options For Medicare

DETROIT (WWJ) - The future of Medicare is back in focus in Washington this week, following House passage of a plan that would eliminate the program entirely.

While she doesn't believe the measure will pass the Senate, Michigan Democratic Senator Debbie Stabenow says there are other options available as opposed to the idea of eliminating Medicare altogether.

"The one that I am working on with colleagues would require Medicare to negotiate  group prices for prescription drugs which saves about $200 billion dollars a year," says Stabenow.

One cost-cutting alternative, Stabenow says, is to have Medicare require group prices be negotiated for prescription drugs, something, she says, would save the program roughly $200 billion dollars a year.

Stabenow says the elimination of Medicare would double out-of- pocket insurance costs for seniors, to an average of $12,000 a year.

"We are going to fight like crazy to make sure it doesn't pass the Senate. My concern is that eliminating Medicare, benefits the insurance industry, it absolutely does not help older people in this country," says Stabenow.

Last week, the trustees overseeing Medicare projected that rising costs will render the trust fund insolvent by the year 2024, unless a re-financing is undertaken.