'08 Federal Budget To Cut Rx Payments

WASHINGTON President Bush's proposed 2008 fiscal year budget contains another round of cuts to Medicaid reimbursement that could leave retail pharmacies absorbing losses and possibly abandoning the program. Under the president's proposed budget, $1.2 billion would be cut from pharmacy reimbursement for generic medications in the Medicaid program over the next five years. Corresponding state reductions

WASHINGTON — President Bush's proposed 2008 fiscal year budget contains another round of cuts to Medicaid reimbursement that could leave retail pharmacies absorbing losses and possibly abandoning the program.

Under the president's proposed budget, $1.2 billion would be cut from pharmacy reimbursement for generic medications in the Medicaid program over the next five years. Corresponding state reductions bring the total cut to $2 billion.

“Although we don't have a lot of

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