Posted on 11/23/2022 10:08:48 AM PST by Mr. Mojo
Two economists reported Tuesday in a Wall Street Journal op-ed that President Joe Biden is cutting Medicare benefits through the so-called Inflation Reduction Act, which cuts payments for prescription drugs for seniors.
Casey B. Mulligan and Tomas J. Philipson wrote:
President Biden has accused Republicans of scheming to cut Medicare. In fact it is his signature legislation, the Inflation Reduction Act, that will lead to benefit cuts and premium increases for seniors. Medicare’s popular drug-coverage program is headed for a painful amputation.
The private plans participating in Medicare’s prescription-drug program, known as Part D, currently draw on three sources of revenue to finance prescriptions: out-of-pocket payments from patients, premium payments made by plan members, and subsidies from the federal government. In 2025, under the Inflation Reduction Act, both government subsidies and out-of-pocket payments by patients are scheduled to be cut sharply. The difference will have to be made up by premiums. But the statute inhibits this third revenue source, which is also subsidized, from increasing more than 6%. That’s hardly enough to cover inflation, let alone compensate for the other two revenue losses.
We estimate that beginning in 2025, plan subsidies—specifically, the reinsurance subsidies for the beneficiaries with the most drug spending—will be cut $30 billion, out of revenue that currently totals about $110 billion. With $30 billion less to finance prescription benefits, something will have to give. Plans currently have far too little profit to span the chasm that the Inflation Reduction Act opens between expenses and revenue.
(Excerpt) Read more at breitbart.com ...
Yet Republicans will be blamed for it.
Hey, I have an idea. How about stop giving Ukraine 40 billion and put it instead into Medicare.
Can hardly wait for that ________ to die. I hope he chokes and experiences terror all the way out. Ditto for his regime of America-hating freaks.
bttt
This. ☝☝☝☝☝☝☝☝☝
so, biden is pushing granny in a wheel chair over the cliff?
He must hate the elderly and disabled and veterans and minorities as well-
IF the republicans were smart in congress, they woudl get this out that biden hates the poor on medicare- but they aren’t so they wont get it out against biden like the left got it out about bush
Well Well Well, looks like it wasnt the GOP who was “Cutting off medicare” its the Dems, but the commie media wont say a thing
My Cigna Part D plan is going up from $30/month to $63/month. Cigna said my old plan was discontinued...grrr!
Can't do that...it would help Americans.
Democrats game plan:
Kill jobs
Kill babies
Kill old people
Kill, kill, kill
Keep voting Democrat; they’ll get around to killing you too.
Wonder what’s going to happen with my VA prescription co-pays.
And support for 5 million illegals for the next 20 years.
When do the American people had enough, all this money to the Ukraine laundry machine
When do the American people had enough, all this money to the Ukraine laundry machine
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