Medicare's Rx: A $15 Billion Boondoggle

Far from bringing new efficiencies and savings, the inclusion of private insurers in the Medicare prescription drug bill is costing us $15 billion over government-run healthcare, according to a study released today by the House Oversight Committee.

Excess administrative costs eat up $180 per participant:

And the volume discounts negotiated on drug prices with Big Pharma are just a joke:

But hey, other than that, it's a great bill.