The Biden-Harris administration is using taxpayer money to hide large increases in Medicare premiums caused by the Inflation Reduction Act. We knew this would happen, but Democrats and the media lied.
Biden-Harris’s IRA caps out-of-pocket costs for prescription drugs. As a result, insurers must raise Medicare monthly premiums, with some tripling by next year.
To keep people in the dark, the administration subsidized these premium increases with taxpayer money to keep them artificially low.
Biden-Harris took money from the Medicare Trust Fund to temporarily fund the EV tax credits in the Act.
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Critics warn their actions may have broken the law. It’s a huge scandal.
Huge scandal that Kamala Harris should be asked about immediately.
First Biden/Harris took money from Medicare to fund EV tax credits in the Inflation Reduction Act;
Now they’re taking money from the Medicare Trust Fund to hide resulting premium hikes until after November. pic.twitter.com/VuTiUxB6Db
— Matt Whitlock (@mattdizwhitlock) August 14, 2024
Fox News:
In a move critics say is designed to shield the Biden-Harris administration from election fallout, the administration has leveraged taxpayer funds to mask upcoming increases in Medicare premiums.
Under the Inflation Reduction Act (IRA), which was intended to cap out-of-pocket drug costs for Medicare beneficiaries, insurers are poised to significantly hike monthly premiums, with average bids for Part D plans expected to triple by 2025.
In response to potential voter backlash, the Centers for Medicare and Medicaid Services (CMS) rolled out a three-year “demonstration project” to subsidize these premiums, aiming to keep them artificially low. However, despite the appearance of relief, some critics are saying that taxpayers will fund a dramatic increase in subsidies — from $30 per recipient per month in 2024 to $142.70 in 2025.
It is raising concerns about the long-term impact on government spending and debt. The Inflation Reduction Act was always going to do the opposite of what they promised.
Politico:
One of President Joe Biden’s signature domestic achievements is set to cause a significant spike in Medicare premiums for millions of Americans just ahead of the November election. Now, his administration is preparing to dole out billions of dollars to private insurance companies to blunt the impact of the increase.
The jump in premiums is a consequence of efforts to reduce what older Americans pay for prescription drugs, part of the 2022 Inflation Reduction Act. Insurance companies are on the hook for what patients used to pay and are raising drug plan premiums to make up the difference.
It’s a cover-up to protect Harris-Walz so they can win in November. It’s probably illegal. The administration is stealing money from a Medicare fund to hide the results of the disgusting New Green Deal bill. The bill, misnamed the Inflation Reduction Act, is mostly about radical green initiatives. Schumer and Manchin put it together.
This is the height of corruption.
wpDiscuz
