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Senate Proceeding on Jun 15th, 2011 :: 1:03:25 to 1:06:54
Total video length: 9 hours 2 minutes Stream Tools: Stream Overview | Edit Time

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Joseph Lieberman

1:03:25 to 1:03:45( Edit History Discussion )

Joseph Lieberman: work. medigap policies are insurance policies that cover the gaps in a senior's medicare coverage. they're designed to pay an enrollee's co-pays and deductibles so he or she won't be liable for a big hospital bill if they ever get sick. but study after study have found that the medicare enrollees who

Joseph Lieberman

1:03:25 to 1:06:54( Edit History Discussion )
Speech By: Joseph Lieberman

Joseph Lieberman

1:03:46 to 1:04:06( Edit History Discussion )

Joseph Lieberman: have a comprehensive medigap plan that pays all the deductible and all of the co-pay so the individual doesn't pay anything, uses as much as 25% more service than those with the traditional medicare program. and that's because they don't have any impact on themselves for the utilization of services.

Joseph Lieberman

1:04:07 to 1:04:28( Edit History Discussion )

Joseph Lieberman: again, who pays for that extra utilization of services? not the individual medicare enrollee. the taxpayer, and it's not fair. tpeufbgt -- be fifth, we've got to increase revenues coming into the medicare program. we can't save it by making changes in the premium structure.

Joseph Lieberman

1:04:29 to 1:04:51( Edit History Discussion )

Joseph Lieberman: i'm going to propose that higher-income americans -- in this case i'll define it as people making over $250,000 a year -- contribute an additional 1% of every $1 of income over $250,000 to save medicare as we know it. that's the outline of my plan, mr. president.

Joseph Lieberman

1:04:52 to 1:05:13( Edit History Discussion )

Joseph Lieberman: i wanted to come and describe it to my colleagues. raise the eligibility age, charge a more financially sound premium, address overutilization and waste and fraud, and develop a more reliable funding stream so that we can save medicare, which is a great program, and which we won't save unless we

Joseph Lieberman

1:05:14 to 1:05:35( Edit History Discussion )

Joseph Lieberman: take some tough decisions. i said earlier that i think this proposal will save at least $250 billion in the first decade and keep the program alive for 20 years. i was really encouraged that the very respected committee for a responsible federal budget said after i disclosed this plan last week that they believe it would

Joseph Lieberman

1:05:36 to 1:05:56( Edit History Discussion )

Joseph Lieberman: save as much as $325 billion over the next decade and reduce spending even more in following decades. i offer these ideas as a starting point and a discussion that we've got to have about how we can both extend the solvency and life of medicare for the

Joseph Lieberman

1:05:57 to 1:06:17( Edit History Discussion )

Joseph Lieberman: seniors who depend on it and reduce our national deficit and debt, which we will not do unless we reduce the drain on our national treasury that the medicare program now represents. i'm going to be drafting this legislation. i'm going to circulate it to my colleagues.

Joseph Lieberman

1:06:18 to 1:06:40( Edit History Discussion )

Joseph Lieberman: i hope it's of some assistance to vice president biden and the leadership group that's working with him as they prepare proposals to get america's ship of state back into fiscal balance. i know that all of these are, are full of risk, political risk.

Joseph Lieberman

1:06:41 to 1:06:54( Edit History Discussion )

Joseph Lieberman: but the refusal of different parts of congress, different parties to either cut spending on the one hand or raise taxes on the other is exactly why we're in the fiscal mess we're in now. and the more we wait to deal with it, the harder it's going

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