Panel OKs Catastrophic Care
WASHINGTON — The Senate Finance Committee overwhelmingly approved a new Medicare plan today to help protect the elderly from catastrophic health care costs.
The bill, passed 19 to 0, now goes to the full Senate, where action is expected in July. The measure would place a $1,700 cap on out-of-pocket costs paid by Medicare beneficiaries for treatment of catastrophic illnesses. The coverage would be funded by a monthly $4 increase in Medicare’s Part B premium and a supplemental premium that would rise in line with higher incomes to an annual maximum of $800 in 1988.
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