Senate Proceeding on Oct 7th, 2009 :: 7:04:15 to 7:08:10
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7:04:08 to 7:04:30( Edit History Discussion )

Max Baucus: politically benet one state over ather. with that, i know the of the finance committee is here and would like to make a motion for unanimous consent. and i will eld to time. the presiding officer: the senator from montana. mr. baucus: madam president, unless the senate acts soon, millions of seniors and

7:04:15 to 7:08:10( Edit History Discussion )
Speech By: Max Baucus

7:04:31 to 7:04:52( Edit History Discussion )

Max Baucus: individuals will face sharply higher medicare premiums next year. in this great recession we must act quickly to esure that we do not allow to punish o on fixed incomes in financially strapped states. many seniors have the medicare

7:04:53 to 7:05:13( Edit History Discussion )

Max Baucus: part-b premiums deducted from the social security checks. normally the social security cost is greater. as a result the monthly checks of the new year are greater than the monthly checks were in the last year. but next year there is not likely to be an upward cost-of-living adjustment to

7:05:14 to 7:05:34( Edit History Discussion )

Max Baucus: social security checks. when that happens, most medicare beneficiaries are held harmless against reductions in the social security checks. the part-b premium is reduced so that the monthly social security checks in the new year are not less than what they were in the prior year.

7:05:35 to 7:05:55( Edit History Discussion )

Max Baucus: however, 27% of medicare enrollees do not benefit from the hold harmless. the absence of a cost-of-living adjustment will expose these seniors to big premium increases next year. under current law these enrollees not only have to pay thr own premiums, but they must make up for the premiums not being paid by the 73% of beneficiaries who will be held

7:05:56 to 7:06:19( Edit History Discussion )

Max Baucus: harm less. these 27% of medicare recipients will be forced to 0 showld are the full load of next year's premiums increases. this will mean an increase in premiums up from $96 to $120 next month. who are these recipients? they include low-income beneficiaries who participate in

7:06:20 to 7:06:40( Edit History Discussion )

Max Baucus: both medicare and medicade. they include new enrollees in medicare part-b and they include new enrollees in medicare part-b as i said and they include medicare part-b who don't 0 receive social such as some federal retire east and they include higher income enrollees who pay higher premiums.

7:06:41 to 7:07:02( Edit History Discussion )

Max Baucus: this burden will hit medicare beneficiaries hard. but financi will also feel the effect. because state medicade programs pick up the cost of part-b premiums for medicare beneficiaries who are also eligible for medicade, the premium hike also hits state buments.

7:07:03 to 7:07:24( Edit History Discussion )

Max Baucus: states across the nation are facing huge difficult choices. we should not allow this to add to the burdens. the medicare -- let me correct this. it will ensure that the 27% of medicare beneficiaries would 0 not have to shoulder any additional burden. no medicare enrollee would face

7:07:25 to 7:07:46( Edit History Discussion )

Max Baucus: a higher premium next -- excuse me -- next year than this year. it would provide social security for those on fixed incomes. the bill is fully paid for and would tap into the medicare improvement fund which is created to solve problems like this. inaction on

7:07:47 to 7:08:07( Edit History Discussion )

Max Baucus: i hope that the bill will have broad bipartisan support. madam president, i ask consent the finance committee be discharged from further consideration of medicare premium fairness act

7:08:08 to 7:08:12( Edit History Discussion )

Max Baucus: and the senate proceed to its immediate considering, further that the bill be read a third