Biden-Harris Admin Plans to Use Billions of Taxpayer Dollars to Offset Medicare Plan D Premiums Less Than 3 Months Before ElectionOlivia Rondeau 14 Aug 2024
The Biden-Harris administration is using billions of taxpayer dollars to bail out health insurers in order to mask impending rises in Medicare Part D plans less than 100 days out from Election Day — and being criticized for it.
The Democrat-supported 2022 Inflation Reduction Act (IRA) limited out-of-pocket drug costs for Medicare recipients, which in turn put insurers in the position of dramatically hiking monthly premiums, Breitbart News reported.
The average bids for Part D plans are predicted to triple by 2025, according to an analysis by Fox News.
With these concerns hitting senior voters, the Centers for Medicare and Medicaid Services (CMS), a federal agency within the U.S. Department of Health and Human Services (HHS), developed a three-year “demonstration project” to subsidize those spiking premiums.
While the Biden-Harris administration aims to keep the Part D plans at an artificially low cost, some policy experts are pointing out that taxpayers will be footing the bill for the appearance of relief.
“What do insurers do when the costs of their plans go up? They raise premiums, of course,” Jackson Hammond of the Paragon Health Institute wrote in an August 5 report.
“We don’t know yet what premiums will be in Part D,” the senior policy analyst stated, “but, we do know they will jump because the average bid submitted by plans for stand-alone PDPs has skyrocketed from $64.28 in 2024 to $179.45 in 2025 – and roughly 25 percent of the increase will be borne by beneficiaries and 75 percent borne by taxpayers.”
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https://www.breitbart.com/politics/2024/08/14/biden-harris-admin-plans-use-billions-taxpayer-dollars-offset-medicare-plan-d-premiums-less-than-3-months-before-election/
