The Pharmaceutical Companies Will Bend, But Won't Break

Today, President Barrack Obama announced an agreement with the pharmaceutical companies to provide $80 billion dollars in prescription drug discounts for seniors on Medicare Part D over the next 10 years. This agreement will help reduce the cost of prescription drugs for millions of American's elderly. As part of the upcoming health care reform legislation, drug manufacturers that participate in Medicare Part D will either pay a rebate to Medicare or offer a substantial discount of at least 50% on the negotiated rate of prescription drugs.

This legislation will aid the seniors who fall into the Medicare "doughhole" gap in coverage, between $2,700.00 and $6,153.75 which is not covered by Medicare. This agreement was introduced by Senators Max Baucus and Chris Dodd as well as AARP President Barry Rand, who called this plan a "new opportunity" for those who have been burdened by the costs of prescription drugs.

Individuals who are looking for Medicare Advantage plans or have questions about new health care reform legislation, please visit www.gizmohealth.com or call 1-312-884-5150.