News Summary: Liberal group puts forth budget plan

News Summary: Liberal think tank outlines plan for federal savings including big Medicare cuts

Associated Press

PREVENTIVE MOVE: A liberal think tank released a blueprint for significant federal savings, mostly from Medicare, in a bid to prevent a raid on health care programs in upcoming budget talks.

DOWN ON THE PHARMA: The Center for American Progress targets Medicare service providers, with drugmakers taking the biggest hit of $160 billion of the proposed 10-year savings. Most of that would come from rebates pharmaceutical companies would pay on drugs for low-income Medicare beneficiaries.

OLD ENOUGH: The plan rejects raising the Medicare eligibility age to 67 and increases monthly premiums for outpatient and prescription coverage for higher-income Medicare recipients.

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