"This paper investigates the impact of Medicare HMO penetration on the medical care expenditures incurred by Medicare …-for-service beneficiaries. In particular, a one percentage point increase in Medicare HMO penetration reduces such spending by .9 percent. We …

"On January 1, 2006, the federal government began providing insurance coverage for Medicare recipients' prescription … drug expenditures through a new program known as Medicare Part D. Rather than setting pharmaceutical prices itself, the … Medicare recipient allowed to choose from one of the private insurers with a contract to offer coverage in her geographic …