Don't Wreck Medicare Part D

March 11, 2014 11:08 AM

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Don't Wreck Medicare Part D

In 2003, I opposed the Medicare prescription drug bill, in large part because I expected that - like all other government entitlement programs - it would end up costing far more than initially projected. I was wrong.

The program's structure, based on competing private plans, made Part D unlike all entitlements that had come before. Indeed, it is a model for reforming the rest of Medicare. The plans compete intensely to sign up seniors. The incentives are aligned to avoid administrative waste and keep costs down,...

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