WASHINGTON, June 29 -- Sen. Ben Ray Lujan issued the following press release:
U.S. Senator Ben Ray Lujan (D-N.M.), a member of the Senate Finance Committee, U.S. Senator Lisa Blunt Rochester (D-Del.), Senate Finance Committee Ranking Member Ron Wyden (D-Ore.), and Senate Democratic Leader Chuck Schumer (D-N.Y.), introduced the Medicare Cost Cap Act, which will create a $5,000 cap on out-of-pocket costs for Traditional Medicare (Parts A and B) beneficiaries.
Currently, Traditional Medicare does not have a limit on out-of-pocket costs, meaning beneficiaries are confronted with unlimited, catastrophic health care costs if they face serious illness or hospitalization. Medicare Advantage (MA), employer-sponsored insurance, and insurance bought...