Biden and Harris Raided Medicare to Fund Green New Deal: Premiums Are Now Set to Spike

[Frankenstein]

https://www.allsides.com/news/2024-11-16-1427/climate-change-biden-and-harris-raided-medicare-fund-green-new-deal-premiums

When Democrats rammed through the Inflation Reduction Act during the days they controlled all of Washington, D.C., it ignited a chain reaction that led to higher Medicare costs for America’s senior citizens. “Nearly two years after its passage, the IRA has diverted nearly $260 billion from the projected Medicare ‘savings’ to pay for special interest handouts like large tax credits for costly electric vehicles, enormous subsidies paid to big health insurer-PBM corporations, and funding health care programs for illegal immigrants,” Ron Fitzwater, Chief Executive Officer of the Missouri Pharmacy Association,...

 

[d0gbreath]

What is a Medicare premium young pup?

 

[protectionist]

Did they ever do anything good for Americans ? Sheesh!

 

[Doc7505]

https://www.allsides.com/news/2024-11-16-1427/climate-change-biden-and-harris-raided-medicare-fund-green-new-deal-premiums

When Democrats rammed through the Inflation Reduction Act during the days they controlled all of Washington, D.C., it ignited a chain reaction that led to higher Medicare costs for America’s senior citizens. “Nearly two years after its passage, the IRA has diverted nearly $260 billion from the projected Medicare ‘savings’ to pay for special interest handouts like large tax credits for costly electric vehicles, enormous subsidies paid to big health insurer-PBM corporations, and funding health care programs for illegal immigrants,” Ron Fitzwater, Chief Executive Officer of the Missouri Pharmacy Association,...

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Hold tight to your seat... Medicare will now take $250.00 a month from your salary to cover Medicare/Medicaid costs beginning January 1, 2025..

 

[WEATHER53]

What is a Medicare premium young pup?

If you do not know that then you are not adult enough to be here much less comment

 

[task0778]

The IRA’s tinkering with Medicare also has impacted drug companies. A Wall Street Journal editorial explained the process.

“The IRA let Medicare ‘negotiate’ prices for 10 to 20 drugs a year and a total of 60 by 2029. Negotiate is a euphemism for extortion: Drug makers that don’t participate or reject the government’s price face a daily excise tax that starts at 186% and climbs to 1,900% of a drug’s daily revenue,” the editorial began.

“The law also requires manufacturers to pay the government rebates on medicines sold to Medicare if they raise prices more than the rate of inflation, and puts them on the hook for more of the entitlement’s Part D costs. Democrats used the resulting estimated ‘savings’ of some $160 billion to pay for the green new deal,” the editorial said.

The outcome will be that the drug companies will stop producing drugs that won't be profitable at whatever Medicare's price point will be. So, the supply for certain drugs will be reduced AND the price for other drugs not on Medicare's list will go up to compensate for the lost revenue. And on top of that the money that goes into R&D for new drugs/treatments is going to be reduced too.

I sometimes wonder if democrats are that effing stupid or don't really care about who gets hurt as long as they get re-elected. And they have absolutely no scruples at all.

 

[d0gbreath]

If you do not know that then you are not adult enough to be here much less comment

It sucks to be you. I'm only joking. I've been on Medicare for over 4 years now. I'm pretty sure that I don't have premium payments on autopay.

 

[kyzr]

It sucks to be you. I'm only joking. I've been on Medicare for over 4 years now. I'm pretty sure that I don't have premium payments on autopay.

I think he means the Medicare "tax" workers pay.
Some good news is that the Medicare bankruptcy date got pushed back to 2036.

Medicare and Social Security go-broke dates are pushed back in a 'measure of good news'

The go-broke dates for Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates.

apnews.com