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CNN Live At Daybreak

President Bush to Sign Controversial Medicare Reform Bill Today

Aired December 08, 2003 - 05:39   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: In Washington, as we've said, President Bush is to sign that controversial Medicare reform bill today. The nearly $400 billion piece of legislation would go into effect in the year 2006.
Our Kathleen Koch takes a look at who wins and who loses.

(BEGIN VIDEOTAPE)

KATHLEEN KOCH, CNN CORRESPONDENT (voice-over): When it comes to drug coverage, the sick and poor are the biggest winners.

SEN. JOHN BREAUX (D), LOUISIANA: For the first time, we will say to seniors who are low income that you will no longer be treated as a second class citizen.

KOCH: Those with high drug bills get a huge break when the government picks up 95 percent of their costs after they spend $3,600 a year. The poorest seniors get their drugs almost for free. Losers, seniors who earn more than $80,000. For the first time, they'll have to pay more for doctor visits.

More winners, rural and urban hospitals with a large number of poor patients. They'll get higher payments, incentive to treat those Medicare recipients. Doctors win, too. Instead of cutting payments to doctors who treat seniors on Medicare, they'll get a 1.5 percent increase. Losers? The pocketbooks of future generations.

SEN. JOHN MCCAIN (R), ARIZONA: My friends, $400 billion is merely a down payment.

KOCH: The price tag for Medicare reform.

Kathleen Koch, CNN, Washington.

(END VIDEOTAPE)

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com




Today>


Aired December 8, 2003 - 05:39   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: In Washington, as we've said, President Bush is to sign that controversial Medicare reform bill today. The nearly $400 billion piece of legislation would go into effect in the year 2006.
Our Kathleen Koch takes a look at who wins and who loses.

(BEGIN VIDEOTAPE)

KATHLEEN KOCH, CNN CORRESPONDENT (voice-over): When it comes to drug coverage, the sick and poor are the biggest winners.

SEN. JOHN BREAUX (D), LOUISIANA: For the first time, we will say to seniors who are low income that you will no longer be treated as a second class citizen.

KOCH: Those with high drug bills get a huge break when the government picks up 95 percent of their costs after they spend $3,600 a year. The poorest seniors get their drugs almost for free. Losers, seniors who earn more than $80,000. For the first time, they'll have to pay more for doctor visits.

More winners, rural and urban hospitals with a large number of poor patients. They'll get higher payments, incentive to treat those Medicare recipients. Doctors win, too. Instead of cutting payments to doctors who treat seniors on Medicare, they'll get a 1.5 percent increase. Losers? The pocketbooks of future generations.

SEN. JOHN MCCAIN (R), ARIZONA: My friends, $400 billion is merely a down payment.

KOCH: The price tag for Medicare reform.

Kathleen Koch, CNN, Washington.

(END VIDEOTAPE)

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com




Today>