President Barack ObamaBarack ObamaOvernight Finance: GOP divided over welfare cuts in budget | Lawmaker loses M on pharma stock he pitched | Yellen says another financial crisis unlikely in our lifetimes Why UK millennials voting for socialism could happen here, too Overnight Regulation: EPA moves to repeal Obama water rule | Labor chief to review overtime rule | Record fine for Google MORE has said he'll consider any good ideas, whether from Democrats or Republicans, to solve the nation's problems. He has put that promise into practice with an idea to help pay for expanded health-care coverage.

In his first budget plan, Mr. Obama has proposed charging higher-income seniors more for prescription-drug coverage under Medicare Part D. This good idea was championed in last year's presidential campaign by his Republican opponent, Arizona Sen. John McCain.

... Under current law, all but the lowest-income seniors are charged equally for the same taxpayer-subsidized prescription drug coverage under Medicare Part D — about 25 percent of the cost. Millionaires pay no more than the middle class. With the federal government running record deficits, this is nuts.

Critics of means testing premiums have argued that charging more to some seniors might lead them to drop their coverage. But even at the higher premiums Mr. Obama has proposed, prescription-drug coverage under Medicare would still be a good deal.

... With Mr. Obama planning to use the proceeds from his version of [the] proposal to advance universal health care, long one of the Democrats' highest priorities, they would be wise to follow the president and embrace this good idea.