Targeted News Service –
September 10, 2012:
Sept. 11 — Rep. John Garamendi, D-Calif. (10th CD), issued the following news release:
Today, Congressman John Garamendi (D-Fairfield, CA), California’s Insurance Commissioner for eight years, highlighted two new reports that show Americans would pay more if the health care law is repealed.
The first report by the Kaiser Family Foundation “Repealing the ACA is expected to increase premiums and other costs for beneficiaries over the next decade,” the report notes.
Specifically, Part A deductibles and copayments would rise; Part B premiums would increase; Part D cost-sharing for prescription drugs would rise; and coverage for free preventative health screenings would be eliminated.
“Seniors deserve to know the truth: Congressional Republicans are proposing policies that will raise their prescription drug costs by thousands of dollars every year, and their ultimate goal is the elimination of the Medicare guarantee,” Congressman Garamendi said. “So long as I’m in Congress, I will always fight to protect Medicare, because we all deserve to live our Golden Years with the peace of mind that comes with quality and affordable health coverage.”
Since the establishment of Medicare in 1967, the senior poverty rate has dropped by two-thirds. The Ryan-Republican budget replaces Medicare with an underfunded coupon system that will cost seniors up to $11,000 a year more for prescription drug coverage and other health expenses.
Also today, Health and Human Services reported that the health care law’s requirement that insurance companies spend no more than 20 percent of consumer premiums on profits and administrative costs has saved consumers an estimated $1 billion on their insurance premiums.