One large problem with self-appointed commentators is that often they don’t know what they’re talking about, and their interviewers are equally dumb on the subject. For the right-wingers on Fox News, that may be deliberate. But in this case, I don’t think so, because I’ve heard others make the same mistake.

During a Nov. 21 conversation on “Special Report” about the wonders of the Part D drug benefit, Mort Kondracke was ridiculing proposals (not only from Democrats) that would authorize Medicare to negotiate lower drug prices. Said Kondracke, beneficiaries are already “paying lower prices than anyone expected. The average premium was expected to be $34 a month…it’s down to $27 a month.”

Mort, you should try doing a little reporting like you used to do before you turned into a commentator. But your mistake has been made by others who don’t know Part D as well as those of us who report on it. Simply put, the premium has nothing to do with the drug prices. It’s not even counted against the initial benefit, which this year is $2,250. Mort, in addition to a premium, Part D beneficiaries pay a deductible, which is going up from $250, to $265.

But even more to the point and not well understood, beneficiaries’ accounts are also charged with a co-payment, all of which are going up next year, PLUS the drug price paid by the insurance company–and those prices have climbed by eight percent. If the drug is expensive, it will easily eat up the initial benefit of $2,250 (or $2,400 next year). After that, Mort you’re in the doughnut hole and you pay full price.

Mort’s interviewer, Brit Hume, agreed that the premium meant drug costs were declining. He said, “And this (premium) gives them (beneficiaries) an insurance policy that pays for their insurance.” And Mort said, “Exactly.” Those of us on Medicare know better.