Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

11 of 22
BACKNEXT
Medicare
Medicare
Rising health care costs are pushing Medicare toward an unsustainable long-term deficit nearly 5 times that of Social Security. Obama says his efforts to reduce health care costs will help stabilize Medicare. But the Medicare proposals he's made so far aren't sufficient to address the shortfall, health care experts say.

·Would let government negotiate for Part D drug prices.

·Would increase use of generic drugs in Medicare.

·Wants to close the coverage gap known as the "doughnut" hole in Part D for reimbursement of prescription drugs.

·Favors eliminating subsidies paid to private Medicare Advantage plans.

·Wants to legalize importation of some prescription drugs.

"As president, I will reduce costs in the Medicare program by enacting reforms to lower the price of prescription drugs, ending the subsidies for private insurers in the Medicare Advantage program and focusing resources on prevention and effective chronic disease management." -- Obama *



NEXT: Personal Taxes
Last updated November 06 2008: 11:36 AM ET
Source:
*March 25, 2008, statement on Social Security and Medicare.trustees' annual report
More Galleries
Google's logos through the years Google changed its logo for the fifth time in 17 years this week. Here's what the old ones looked like. More
How much you should have saved for retirement right now Joe is 50 years old and makes $70,000 a year. He should already have $364,000 saved for retirement. Are you on track? More
The stock market's wild week in 6 pictures It was the wildest week in stocks in recent memory. Here's photos and CNNMoney's tweets of reactions to the panicked selling on Monday and Tuesday, which gave way to a mad buying scramble on Wednesday and Thursday. And then...a selloff on Friday again. More

Special Offer