Weighing in on the Medicare Prescription Drug Benefit Plan

Abstract

The purpose of this analysis is to look at the Medicare Prescription Plan and determine how well it is performing, obstacles that it will face, and the potential longevity of the plan. The Medicare prescription plan will not be an easy fix as there are complex problems with few easy answers. The plan provides much needed drug coverage for millions of Americans and most agree it is the socially responsible thing for the government to do; however, the plan will face sustainability challenges in the future from controlling costs, an aging population, and technological advances in medicine. Medicare was in deep financial trouble before the addition of the new prescription plan. The addition has put a further cost burden on an already weakened system. The plan was not well thought out from a financial stand point and will not be able to endure into the future in its current state.