[Congressional Record (Bound Edition), Volume 149 (2003), Part 13]
[Extensions of Remarks]
[Page 17451]
[From the U.S. Government Publishing Office, www.gpo.gov]




REGARDING THE ACTUARIAL VALUE OF PRESCRIPTION DRUG BENEFITS OFFERED TO 
 MEDICARE ELIGIBLE ENROLLEES BY A PLAN UNDER FEDERAL EMPLOYEES HEALTH 
                            BENEFITS PROGRAM

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                               speech of

                           HON. RUSH D. HOLT

                             of new jersey

                    in the house of representatives

                         Tuesday, July 8, 2003

  Mr. HOLT. Mr. Speaker, in light of yesterday's consideration of a 
bill to ensure that federal retirees will not lose their prescription 
drug coverage under the Republican leadership's Medicare prescription 
drug legislation, I have a question for Mr. Davis.
  Chairman Davis, I applaud you and the Government Reform Committee for 
looking out for the interests of retired federal employees. I must ask, 
however, why you do not see an inconsistency here.
  With this bill, you have acknowledged that the Medicare drug 
legislation passed by this House could give Congress an incentive to 
drop prescription drug coverage for federal retirees because they will 
get prescription drug coverage under Medicare.
  Will you also acknowledge that under the Medicare bill passed by the 
Republican leadership, nearly one-third of employers currently offering 
retiree drug benefits--covering 11 million seniors--would drop that 
coverage, according to the CBO? If federal retirees are to be protected 
from having to rely on what would be inadequate prescription coverage 
under Medicare, shouldn't all retirees with such coverage be protected? 
The truth is that the bill passed last month ostensibly to provide 
prescription medicine to seniors not only undermines Medicare as a 
program it also undermines private employer-based coverage of retirees.

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