On Thursday, the ranking Republican on the oversight committee, Rep. Thomas M. Davis III of Virginia, said that the cost of Medicare Part D had come in nearly 40% lower than original estimates and that seniors using the program were satisfied.
"More economically disadvantaged seniors have access to the drugs their doctors prescribe than ever before in American history," Davis said in a statement. "They've learned to love Part D."
A report by the committee’s Republican staff said Democrats were asking the wrong questions about Medicare Part D. Federal price controls for Medicaid result in prices below those available in the free market, but the difference does not amount to a "windfall" for drug companies, Republicans said.
Richard Smith, a vice president with the Pharmaceutical Research and Manufacturers of America, the leading drug industry group, warned in a statement to the committee against government interference in Medicare Part D.
"It is primarily the effective operation of the competitive market that has driven down Part D costs for beneficiaries and taxpayers compared to previous estimates," Smith said.
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nicole.gaouette@latimes.com
