Welch says drug prescription program needs an overhaul

Louis Porter, Vermont Press Bureau

Excerpt:

"It confirms what we know. The drug companies are ripping off the U.S. taxpayers and seniors," Welch said.

The report released Monday by the House Oversight and Government Reform Committee, of which Welch is a member, shows that the program could have saved a stunning $15 billion by two simple actions. It said the program could have saved the money by slashing the high administrative costs of the insurance companies in Part D and by negotiating price discounts from manufacturers as is done for poor people under the Medicaid program.

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