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A conservative estimate of how many retirees
will lose their healthcare coverage and be dumped into
Medicare.
"By offering the prescription drug benefit not just to those 10
million seniors on Medicare who don’t currently have one — but to all 40
million seniors on Medicare, regardless of whether they need it or not. This
presents companies with an economically irresistible enticement: Dump retirees
into the government plan, and save boatloads of money....Don’t even think
companies will hesitate to take advantage of such savings by dumping retirees
from their rolls... between 32 and 37 percent of senior
citizens with employer-provided drug plans will lose those plans, just as
quickly as their former employers can dump them. That amounts to around 4
million seniors who will lose their private drug insurance and be dumped into
the already overburdened Medicare bureaucracy outright, along with far greater
numbers of people who will see their drug coverage significantly scaled back
from what it is today."
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