Biden and Harris Raided Medicare to Fund Green New Deal: Premiums Are Now Set to Spike

[searcher]

* I cannot vouch for the veracity of this article.

Biden and Harris Raided Medicare to Fund Green New Deal: Premiums Are Now Set to Spike​

When Democrats rammed through the Inflation Reduction Act during the days they controlled all of Washington, D.C., it ignited a chain reaction that led to higher Medicare costs for America’s senior citizens.

“Nearly two years after its passage, the IRA has diverted nearly $260 billion from the projected Medicare ‘savings’ to pay for special interest handouts like large tax credits for costly electric vehicles, enormous subsidies paid to big health insurer-PBM corporations, and funding health care programs for illegal immigrants,” Ron Fitzwater, Chief Executive Officer of the Missouri Pharmacy Association, wrote in an Op-Ed in the Missouri Times.

“The Biden-Harris administration is not protecting Medicare; they’re stealing from it,” he wrote.

Read the rest:

https://www.msn.com/en-us/news/poli...TS&cvid=31e9df29edb541a9a894b78e8e072241&ei=9

 

[pmbug]

Some other analysis of the "Inflation Reduction" Act:

...
Taken together, the prescription drug provisions in the Inflation Reduction Act may not generate savings for taxpayers as initially promised, while destabilizing the Medicare Part D insurer market and creating problematic incentives for the biopharma industry.

If the goal is to improve drug access for low-income Medicare beneficiaries, this law represents a cautionary tale for future policymaking. Rather than detaching patients from their healthcare dollars and imposing price controls, directly subsidizing patients and promoting competition and innovation would produce long-lasting benefits for patients, industries, and taxpayers.

More:

Let The Numbers Speak: Prescription Drug Provisions In The Inflation Reduction Act

The Inflation Reduction Act is unlikely to generate savings for taxpayers, while disrupting the market and creating perverse incentives for the biopharma industry.

www.forbes.com

On October 8, 2024, PhRMA held a media briefing to address growing concerns over the Inflation Reduction Act (IRA) and its effects on the biopharmaceutical industry, Medicare Part D beneficiaries, and future drug innovations. Leading the discussion were Steve Ubl, President and CEO of PhRMA; Daniel O’Day, Chairman and CEO of Gilead Sciences; Robert Davis, Chairman and CEO of Merck; Sue Peschin, President and CEO of the Alliance for Aging Research; and Ted Okon, Executive Director of the Community Oncology Alliance. ...

Steve Ubl opened the briefing by emphasizing the unintended consequences the IRA is already having on Medicare Part D, the program designed to help seniors afford prescription drugs. According to Ubl, while the IRA was intended to reduce costs, it has done the opposite for many seniors. The law’s provisions are expected to result in significant premium increases, reduced plan choices, and higher out-of-pocket costs for many beneficiaries.
...
Both Daniel O’Day of Gilead Sciences and Robert Davis of Merck focused on the IRA’s long-term impact on pharmaceutical innovation. They voiced concerns that the law could hinder the development of new therapies, especially small molecule drugs, which play a critical role in treating diseases like cancer, HIV, and mental illness.
...

https://www.policymed.com/2024/10/the-inflation-reduction-act-ira-and-its-broader-impact-on-innovation-access-and-affordability-in-healthcare.html

...
Historically, Medicare's cost reductions have led to higher prices for employer-sponsored plans. When Medicare sets lower prices for services under Parts A (hospital) and B (outpatient), providers often shift costs to those with private insurance to maintain profitability. This trend is expected to continue under the IRA. As Medicare negotiates lower prescription drug prices, hospitals, physicians and drug manufacturers may compensate for lost revenue by charging higher prices to private insurers and employer-sponsored health plans, following patterns seen over the last four decades.
...

https://www.benefitspro.com/2024/11/11/the-inflation-reduction-acts-implications-for-employer-sponsored-health-plans/

 

[nickndfl]

There needs to be a bulletin board where all this info is posted for the world to remember.

 

[Casey Jones]

That's what the Web Archive was intended to be.

We saw what TPTB did with it, up to the (failed, for them) sElection.

No place is safe, anymoar.