Issues & Insights
The criminally misnamed “Inflation Reduction Act” that Joe Biden signed on Aug. 16, 2022, after Harris cast the tie-breaking vote, including among its many horrid provisions, several that affected Medicare Part D – the drug benefit for seniors – is set to go into effect in 2025.
Biden and now Harris have been running around claiming that this was a tremendous deal for seniors, except those provisions added huge costs to these drug plans that were going to jack up monthly premiums for this benefit by an average of $110 – a 179% increase!
So, to avoid that, the administration conjured up a “demonstration project” whereby insurance companies would agree to hold monthly premium increases to $35 or less in exchange for a pile of cash.
The Congressional Budget Office figures this will cost $5 billion a year – in borrowed money – plus another $2 billion a year in added interest costs on the national debt.
Critics have pointed out that this wasn’t a “demonstration project,” normally understood as a small-scale effort to test a change in rules governing a program. Instead, it was a subsidy handed out to every insurance company offering Part D plans. More
We live in a drug culture both illegal and legal.
Better living thru chemistry is not the answer!
Criminally misnamed – like the Affordable Care Act, which Trump still wants to get rid of. Good luck getting that genie back in the bottle. I heard that Biden spent the Medicare money for EV subsidies.
Nah, he spent the money on Ukraine.
you mean the government lied again? I can’t believe it. so who is really the stupid one? the public or the government?
Ho’d Damn, the Pusher Man! (legal or not – same thing, anymore)
Mark: That’s a tough question, I think it’s “D” all of the above. Just look around at all the political yard signs for a clue.
Gee, and the increase in Part D premiums goes into effect in 2025, just in time for Trump to get blamed for the increase.