Res. No. 60-A Title Resolution calling upon the New York State Legislature to adopt Senate bill 1165-A, and its companion, Assembly bill 3972-A, which would amend the executive law in relation to limiting the cost-sharing responsibilities of eligible participants in the elderly pharmaceutical insurance coverage program. Body By Council Members Diaz, Martinez, Reed, Rivera, Rodriguez, Liu, Nelson and Stewart; also Council Members Monserrate, Seabrook and Clarke Whereas, The cost of prescription drugs for senior citizens is a well-documented problem that looms over the political landscape in New York and throughout country; and Whereas, Drug prices are projected to rise another fifteen percent this year, contributing to an ever-increasing financial burden that is surpassing ten percent of senior incomes; and Whereas, Federal Medicare Health Maintenance Organizations (HMOs) have been removing seniors and Congress has failed to address this growing crisis; and Whereas, In New York State, the Elderly Pharmaceutical Insurance Coverage (EPIC) Plan has picked up some of the seniors removed from the Federal Medicare HMOs; and Whereas, As a result of a an initiative to expand EPIC to cover couples with incomes of up to $50,000, virtually half of the senior citizens in the State will be eligible for EPIC; and Whereas, The need for this expanded coverage was, in part, related to the estimated 130,000 New Yorkers who were "dumped" by Medicare HMOs during the past two years; and Whereas, EPIC requires that participants pay a variety of premiums, fees, co-pays and deductibles, which currently range from four to seven percent of their income; and Whereas, The capping of out-of-pocket expenses (COPE) ensures that no one will pay more than five percent of their income for prescription drugs, saving seniors as much as $170 million; now, therefore, be it Resolved, That the Council of the City of New York calls upon the New York State Legislature to adopt Senate bill 1165-A, and its companion, Assembly bill 3972-A, which would amend the executive law in relation to limiting the cost-sharing responsibilities of eligible participants in the elderly pharmaceutical insurance coverage program. CAB LS #132 |1013| |1013|