Democrats see drugmaker windfall from Medicare

By Georgina Coolidge WASHINGTON (Reuters) - U.S. pharmaceutical companies benefited from a $3.7 billion "windfall" during the first two years of Medicare's prescription drug coverage, according to a report from Democratic congressional staff released on Thursday. The report from Democratic staff of the House Oversight and Government Reform Committee focused on "dual eligibles," or patients who qualify for prescription drug coverage from both Medicaid, which covers the poor, and Medicare, the health insurance plan for the elderly and disabled. In 2006, six million eligible beneficiaries were shifted from Medicaid to Medicare's Part D prescription drug coverage, at a cost increase to taxpayers of 30 percent, according to the report. Medicare Part D offers prescription drug benefits through private health plans. "The drug... [read full story]