Posted on 11/13/2021 7:38:22 PM PST by MNJohnnie
Edited on 11/13/2021 8:51:02 PM PST by Sidebar Moderator. [history]
President Joe Biden’s administration on Friday announced it is raising Medicare premiums, a move it blamed in part on the cost of drugs.
The Medicare Part B standard monthly premium will rise by nearly $22 to $170.10 next year, the Centers for Medicare & Medicaid Services said.
“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,” she added.
The move also stemmed from the limiting of the monthly premium increase this year in the Continuing Appropriations Act and from “spending trends driven by COVID-19,” the agency said. “It also reflects the need to maintain a contingency reserve for unanticipated increases in health care spending, particularly certain drug costs.”
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 they needed to store away a higher level of reserves. The agency in July began analyzing whether Medicare would cover the drug but has not yet finished the analysis.
In addition to the monthly premium, the annual deductible will rise from $203 to $233. Also, Medicare Part A inpatient deductibles will jump $72 to $1,556 next year, and Medicare part A daily coinsurance and skilled nursing facility coinsurance will both increase at least $9.
Officials pointed out that many Americans covered by Medicare will see a net increase in Social Security benefits. The Social Security Administration announced last month that recipients will get a 5.9 percent increase in benefits.
However, the 14.5 percent jump in Medicare premiums—the highest since 2016—will eat up the entire adjustment for Social Security recipients with the lowest benefits, according to 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.
Further, inflation is causing the cost of all variety of goods to rise, including core spending priorities like groceries.
Medicare is a federal health insurance program for Americans 65 or older. Americans can start receiving Social Security as early as age 62, though they receive more if they wait until full retirement age.
Lets Go Brandon!
Interesting they rolled this out Friday night.
So, let me get this straight, to much fanfare Social Security is going up by 5.9% in January, but Medicare has now been scheduled to increase by 13%. By my old school math, this is a net loss to seniors of 7.1%.
Way to go, Brandon.
Hmm ... You mean those “drug costs” that President Trump worked hard to get lowered? Those “drug costs”?
Since when are drug costs included in Part B?
Aren’t drug costs in Medicare D and not Medicare B? If so, that makes the excuse for Medicare B going up a lie.
Good question.
And just for the record, “Medicare” D isn’t Medicare at all. Uncle Sam pays nothing.
They had to do something. I think COLA increases for SS was 5.9% or something? So they had to stick to the lie that this 2T dollar giveaway budget “pays for itself” and get the money back some other way. They give something and take more back...
Since Aduhelm must be administered by a doctor, it is covered under Part B and not under a prescription drug plan.
“Chiquita Brooks-LaSure”
Ready made campaign ad for midterms. Brandon pushing grandma off the cliff.
he doesn’t know it goes up EVERY YEAR???
With Seniors dropping like flies, this SOB is telling us that the Social Security System is not “saving” a boat load of money...
Now he is going to raise Medicare???
President Donald Trump would never do something like this.
They WILL pay a price for all the angst and agony they are causing for ...EVERY GROUP OF PEOPLE IN AMERICA.
HE, the bastid, is touching every one of us.
It does go up every year...but NOT DRAMATICALLY as the article reads
Besides, I despise Jim Crow Joe so much that EVERYTHING HE DOES MAKES ME HATE HIM MORE.
First they give a cost of living increase to Social Security then they raise Medicare Premiums neither of which balances out the other.
Exercise and eat a healthy diet and avoid dangerous activities and that should keep most of us away from the need to be around the alt-far-left medical types that raise costs by mandating crazy. Just as a lot of us warned about drug legalization and were correct we also warned what would happen if Democrats pushed through gay marriage. I saw an article regarding that, “Transgender Professor Says There’s No ‘Immorality’ In Being Sexually Attracted To Children”, and you can give that a look at DailyCaller. So it wasn’t bad enough kids have easier access to drugs now (via edibles) but soon the left will make abuse of them their ‘new normal’ as well. Biden is trying to destroy America and he is running out of time, so expect the cray cray to get amped up.
Well the left couldn’t let that stand now could they! They are undoing as much of Trump as they can, although they still haven’t followed through on their threat to impeach his judges.
Nothing that costs money “pays for itself”. NOTHING!
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