Don't believe it. I think the Medicare prescription drug benefit should be put on hold.
I agree with you about the Medicare bill.
That bill pays companies to live up to their contractual obligations to retirees. In other words, it bribes corporations NOT to drop retiree coverage.
But corporations have lots of number crunchers and they have decided that even with the bribe, they are better dropping their retiree prescription drug coverage and letting the taxpayers pick up the tab.
I can't tell you how many people I know personally who had great retiree prescription benefits and they've gotten letters from their carriers saying they will be dropped in January 2006 and the feds will take over.
And although I don't remember the specific numbers, nearly all of them will pay gobs more money individually because the feds don't pay the first $2,500, then pay up to $7,500 and then you get dropped again.
It's the worst bill that a Republican president has ever signed, imo.