Posted on 11/15/2021 6:12:11 AM PST by gattaca
The Biden administration announced on Nov. 12 that it’s raising Medicare premiums, a move that it blamed in part on the cost of drugs.
The Medicare Part B standard monthly premium will rise by nearly $22 to $170.10 in 2022, according to the Centers for Medicare & Medicaid Services (CMS).
“The increase in the Part B premium for 2022 is continued evidence that rising drug costs threaten the affordability and sustainability of the Medicare program,” Chiquita Brooks-LaSure, administrator of the agency, said in a statement. “The Biden–Harris Administration is working to make drug prices more affordable and equitable for all Americans, and to advance drug pricing reform through competition, innovation, and transparency.”
The move also stemmed from the limiting of the monthly premium increase in 2021 in the Continuing Appropriations Act and from “spending trends driven by COVID-19,” according to the agency.
“It also reflects the need to maintain a contingency reserve for unanticipated increases in health care spending, particularly certain drug costs,” CMS said in a statement.
One drug, in particular, was a major factor. Officials said the uncertainty surrounding the potential use of the Alzheimer’s drug Aduhelm by people covered by Medicare meant that they needed to store away a higher level of reserves. In July, CMS began analyzing whether Medicare would cover the drug, but hasn’t finished the analysis.
Epoch Times Photo Aduhelm, Biogen’s approved drug for early Alzheimer’s disease, is seen at Butler Hospital, one of the clinical research sites in Providence, R.I., on June 16, 2021. (Jessica Rinaldi/Pool via Reuters) In addition to the monthly premium, the annual deductible will rise to $233 from $203. Also, Medicare Part A inpatient deductibles will jump by $72 to $1,556 in 2022, and Medicare Part A daily coinsurance and skilled nursing facility coinsurance will both increase by at least $9.
Officials noted that many Americans covered by Medicare will see a net increase in Social Security benefits. The Social Security Administration announced in October that recipients will get a 5.9 percent increase in benefits.
However, the 14.5 percent increase in Medicare premiums—the highest since 2016—will eat up the entire adjustment for Social Security recipients with the lowest benefits, according to The Senior Citizens League, a nonpartisan seniors group.
“Social Security recipients with higher benefits should be able to cover the $21.60 per month increase, but they may not wind up with as much left over as they were counting on,” Mary Johnson, a policy analyst for the group, said in a statement.
Medicare is a federal health insurance program for Americans aged 65 and older. Americans can start receiving Social Security as early as age 62, although they receive more if they wait until full retirement age.
WE pay more so illegals can have FREE medical care. PERIOD!!
2.9 million illegals in the US in 2021 alone!!! And we seniors and US citizens pay the bills.
It’s kinda hard to have much confidence in an agency headed by a “Chiquita.”
“Eat up the entire adjustment”
That was the plan all along, to make you pay for the medicare with your social security. Once again, the Democrats are making sure you stay poor, and will increase costs more to make sure you love your homes snd move into retirement centers, and lose your independence. Democrats, making America Poorer than Before
Who’s shocked? Anyone?? Every time seniors get a SS raise, (which is rare) all of a sudden Medicare costs go up, hmmmm, funny how that happens, and then, the ‘big raise’ seniors get, GONE. This time it looks like not only will seniors lose the ‘big raise’ but it looks like they may be getting even less of what they are getting right now before the ‘big raise’ and Medicare costs rising.
Ain’t free health care grand!?
We do. And sooner or later we will be moved from our houses and apartments so the wet backs can have a place to live , also. that was what the National Socialists did to the Jews in 1030s and 40s Germany. It won’t be long before the elected Democrats here come up with the same idea. Continue electing Democrats. Fools never learn.
> The Medicare Part B standard monthly premium will rise by nearly $22 to $170.10 <
That’s roughly a 15% increase. Now here’s the interesting thing. The Feds tell us that inflation is running at around 6%. So retirees will be getting a 6% bump in their Social Security checks.
I get that the Part B increase is based on medical costs, and not on the overall economy. But 15% is far bigger number than 6% is. So someone is cooking the books somewhere (we are being lied to, again).
Hey Chaquita. HOW is the Biden regime trying to bring down drug prices? That’s a big fat LIE!
exactly.
The deliberate low-balling of cost-of-living adjustments over the past 30 years has reduced effective social security payments by 30%, probably more.
No, still.
Social Security giveth, Medicare taketh away...............
“If your government is big enough to give you everything you want, it is big enough to take away from you everything you have.”
Gerald Ford.
That's the easy part. To bring down drug prices, you reduce demand.
You reduce demand by killing off old people.
You kill off old people by means of a virus that specifically targets old people with comorbidities.
Problem solved.................
Part B covers inhaled respiratory medication ONLY. They lie about everything.
So long COLA increase:-)
Exactly. The cost of these ‘designer’ brand name drugs are skyrocketing. Many of the drugs we see advertised on those glitzy TV commercials cost thousands of dollars a month, and fall under the most expensive tier of most Part D plans. Seniors must pay a full 33% of the retail price for those drugs and can end up shelling out at least $7,000 each year before Medicare really begins to help. The out-of-pocket maximums do not apply to Part D prescription drugs.
Yikes!
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