Feingold: Negotiating Medicare Drug Costs Saves Hundreds Of Billions
The country could save more than $100 billion dollars by negotiating with drug companies concerning prescription drug costs through Medicare. That assessment from Democratic U.S. Senate candidate Russ Feingold. Feingold says the issue needs attention..
".....obviously we have to take this seriously. This is a very big program and the only way we're going to make sure Medicare works in the future is not let these drug companies run the show. These drug companies are costing us a fortune. Right on main street today one of the business owners was horrified by the expenses he's facing just to pay for prescription drugs...."
Recently in Rhinelander, Feingold said huge savings are possible if Congress would act...
"....over 10 years it would save the federal government $123 billion dollars. It's a spending cut that is obvious. I would say of all the things I hear in terms of anxiety around the state, the cost of higher education and the cost of prescription drugs upsets people in all 72 counties...."
Medicare is forbidden in the 2003 law that created Medicare Part D to negotiate lower prices. Feingold is seeking his former U.S.Senate seat that he lost to incumbent Ron Johnson in 2010.