Ezra Klein’s F on Medicare Part D
In this posting in the Foundry, the author contends that the Medicare drug benefit—known as Medicare Part D—had many critics. Some said the program, which is built on consumer choice and vigorous competition among private plan options, wouldn’t work because private plans would decline to participate. Others said seniors wouldn’t sign up for the voluntary benefit because the competitive structure would be too complex. Still others said the program would explode in costs without government-regulated price controls.
All of these predictions were dead wrong.