With today’s failing economy, seniors need all the help they can get to save on prescription drug costs. These savings might be coming very soon with a new agreement by the “nation’s pharmaceutical industry” stating that they plan to reduce drug costs by at least 50 percent for elderly Americans.

President Obama is greatly supporting this new agreement, stating that change in the health care system is a priority. This agreement is going to become part of an “$80 billion reduction in Medicare drug costs for senior citizens over the next 10 years”. This plan would hope to fill the hole that is in Medicare drug coverage, and get more seniors that are not covered by Medicare the drugs they require.

The main problem is determining how to most effectively reduce costs and better reach more of the 46 million Americans lacking health insurance. This returns to the ongoing fight between having a government funded health care system or staying with the private health care system that America currently follows.

As things stand now, this deal is a great win for Americans who want public health care, and may be signs of change in health care coverage in the near future. More importantly, it gives hope to present seniors who are not able to afford their prescribed medicine.

Source:

CNN(2009).Obama praises drug industry deal to cut costs for elderly [News bulletin]. www.cnn.com/2009/POLITICS/06/22/obama.health.care/index.html

Full Article: www.cnn.com/2009/POLITICS/06/22/obama.health.care/index.html