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Bush signs Medicare catastrophic repeal in private
President Bush signed the repeal of the year old Catastrophic Coverage Act, sparking elder protest over premiums and tax surcharges. The act would have limited out of pocket costs and offered some drug benefits, but faced criticism as retirees faced higher taxes and the wealthy hit surcharges up to 800 dollars. The repeal shifts costs and refunds via Social Security adjustments, retroactive to January 1, 1989.
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