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 *