Prescription Drug Coverage

Two different versions of a plan to reform Medicare and include prescription drug benefits passed in both the House and the Senate this week. The differences lie in the amounts of coverage and those differences will need to be resolved before the final bill goes to the President who is expected to sign it into law. Seniors should not expect any immedicate relief from high drug costs as neither plan will go into effect until 2006. In addition, as these plans depend heavily on participation from private sector insurance and benefit programs to help provide this benefit it may prove to be more costly than anticipated. Seniors don't throw away those bus tickets to Canada yet - you will need them for a few more years.