Gov. Scott Walker’s proposed two-year budget would effectively end the state’s SeniorCare prescription drug program in its current form, forcing tens of thousands of people to enroll in more-expensive private plans available through Medicare Part D. The SeniorCare program, introduced in 2001, provides low-cost prescription drug coverage to low-income people over 65. About 91,000 people are in the program, and for most of them, switching to private coverage could cost hundreds of dollars more per year. (MILWAUKEE JOURNAL SENTINEL, 3/14)
Assisted Living Concepts Inc. posted stronger earnings on a small increase in revenue for fourth quarter and for 2010. The Menomonee Falls operator of senior living residences said Friday fourth-quarter net income increased 25% to $5.41 million, or 46 cents a share, from $4.33 million, or 37 cents, a year earlier. Revenue increased 1.2% to $58.4 million from $57.7 million. (MILWAUKEE JOURNAL SENTINEL)