Biden’s Inflation Reduction Act Screws Seniors with the Biggest Medicare Premium Increase Ever

One of the classic strategies in the Obama/Biden playbook is policy that sounds good in the short-term, but whose long-term consequences won’t be felt untilThis was undoubtedly one of the plays the Biden administration had in mind for the gallingly misnamed Inflation Reduction Act . But this disastrous legislation hasn’t just sabotaged Americans’ wallets, it’s sabotaged their health as well.

This year, premiums for Medicare Part D are up more than 20 percent for the more than 50 million Americans enrolled. In 2025, they could increase again by more than 50 percent! We hope people are paying close enough attention during open enrollment in October to compare this price spike as President Biden campaigns on how he “fought Big Pharma to lower drug costs!”

With more private plans competing, older Americans got better choices and more control over their health care. And more than 1,400 plans joined Part D right away. So because of this, the program both came under budget andAnother way Part D insurers are cutting costs to afford the IRA is by adding more “prior authorization” requirements, pushing patients toward the cheapest therapies rather than the most effective ones.

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Biden's Inflation Reduction Act Unravels Medicare Part DSally C. Pipes is president, CEO, and the Thomas W. Smith fellow in healthcare policy at the Pacific Research Institute. Her latest book is False Premise, False Promise: The Disastrous Reality of Medicare for All, (Encounter 2020). Follow her on Twitter sallypipes.
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