The long-delayed Medicare Trustees report was released late last week and I simply can’t tell you how disappointing it was to read. The report, despite being delayed by the administration to reflect the impact of Obamacare, confirms what employers across the country have been saying for months – that the Democrats’ health care law will result in a substantial and marked decline in employer sponsored retiree drug coverage.
According to the Trustees’ report, beginning in 2013 Obamacare will eliminate a tax deduction presently available to employers – virtually eliminating the prescription drug benefit for seniors.
Based on the Trustees’ own figures:
• Up to 5.8 million seniors will lose their current retiree prescription drug coverage by 2016.
• Put another way, only 2 percent of Part D enrollees will still receive such coverage by 2016.
• An additional 1.7 million seniors who would have otherwise received an offer of retiree prescription drug coverage in the future will not have this option.
• That means 7.5 million seniors will no longer have access to retiree drug coverage by 2016 as a result of Obamacare.
Using flawed logic, double counting and budget gimmicks to show that Medicare is on better footing because of Obamacare won’t fool the American people. The truth is: taking a half trillion dollars from Medicare is going to seriously jeopardize seniors’ access to care.