On June 29, I voted for H.R. 4680, the Medicare Rx 2000 Act -- legislation which will help control the cost of prescription drugs without instituting research-inhibiting price controls. The plan establishes a new, universally accessible, voluntary prescription drug benefit program for all Medicare enrollees. I am hopeful this legislation will help provide better care to seniors.

The legislation calls for private insurers to enter into contracts with the federal government to offer seniors a choice in drug coverage policies, with the federal government covering the poorest seniors' premiums. The government would share the cost with private insurers to cover any catastrophic drug expenses that seniors might face.

The overall goal of the plan is to give Medicare beneficiaries bargaining power through private health plans to purchase drugs at discount rates. Studies -- including the White House study released on April 10 -- have shown that insurance-based plans offer policyholders discounts of at least 15 percent off drug prices. Health plans are able to do this through flexibility on cost-sharing, tier pricing, benefit design and formularies.

The Medicare Rx 2000 Act gives seniors the flexibility to choose the plan that best fits their needs. It also provides protection against high out-of-pocket and unexpected costs, and uses the marketplace -- not government regulations -- to control the cost of drugs.

Under the plan, beneficiaries will be able to choose from at least two competing prescription drug plans. Private health plans will design several option packages to best serve individual needs instead of having one government-defined benefit. And the new benefit is 100 percent voluntary -- thereby preserving current coverage for seniors who want to keep what they have.

The Medicare Rx 2000 Act will go a long way toward ensuring all seniors have access to affordable prescription drugs. It is my hope the Senate takes action quickly on this issue of vital importance to current and future seniors.

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