Agreement Seen On Medicare Prescription Drug Benefit
A bipartisan agreement to establish a Medicare prescription drug benefit was pending at press time.
A Senate Finance Committee representative told National Underwriter that it was possible an agreement would be announced late Thursday afternoon, June 5, and be the subject of a hearing scheduled for Friday, June 6.
However, the representative declined to provide any details.
Subsequently, Reuters Newswire reported that a tentative agreement had been reached among key senators but that it was not certain whether all the components had been worked out or whether all the details would be made public.
Earlier in the day, published reports said that under the plan being drafted by Finance Committee Chairman Charles Grassley, R-Iowa, and Ranking Democrat Max Baucus, D-Mont., health plans providing drug coverage would assume 2.5% of any losses during the first two years of the plan.