President Barack Obama says Medicare will exist for many more years, thanks to new legislation that helped put the healthcare program for America's seniors on stronger financial footing. (See Monday's issue of Modern Healthcare, p. 12, for more on the status of Medicare.)
Reform law will save Medicare: Obama
Seniors already are benefiting from that new healthcare law, Obama said, noting that many have received $250 rebates to help buy medicine, for example.
Obama said the law and efforts by his administration to eliminate waste, fraud and abuse both in Medicare and across government generally are making the program stronger and cutting healthcare costs for seniors.
"Medicare isn't just a program," Obama said Saturday in his weekly radio and Internet message. "It's a commitment to America's seniors—that after working your whole life, you've earned the security of quality healthcare you can afford."
"As long as I am president, that's a commitment this country is going to keep," he said.
An annual report this week from the trustees who oversee Medicare, including the Treasury and HHS secretaries, said the program will stay afloat for a dozen years longer than previously projected as a result of the sweeping healthcare overhaul Obama signed in March.
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