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.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.
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.
He and his party also claimed during the midterm elections that Republicans want to eliminate Social Security and Medicare, since Sen. Rick Scott wants to reauthorize all federal spending at regular intervals.on Sirius XM Patriot on Sunday evenings from 7 p.m. to 10 p.m. ET . He is the author of the recent e-book,
Wait, I thought REPUBLICANS were supposed to be attacking retirees!?!
Oh two economists? Really? What about the other 100?
Going after babies and seniors, bankrupting the middle class sounds like a WEF plan.
Dear Joe, you are paid to LEAD, not to be LED. Please get the LED out and LEAD. ~
Isn't this what the left had been trying to blame Republicans? I bet this won't get reported in the mainstream media.
In typical fashion, Biden is just another career politician making promises he can't keep.
. . . and there you go . . . it wasn’t the a Republicans reducing Medicare . . . it was the Democrats!!! Get the Picture?!?!?
As Nancy once said, you have to read the bill in order to find out what is in it. These are the games the Left plays in the interest of their socialist communist agenda.
People do not even realize the damage he has done.
Lying decrepit bastard
A$$h0l!0
No surprise there
So it's ok for him to throw money at Ukraine and rip off medicare benefits.
Rut-roh…..FJB
But we been told for the longest time that the trashy gop wanted to do that.
Jjja jjja
Hello old sheeple
Are you kidding me Hypocrites!!
GOP signed off on it too.
He would have slit his moms throat for a dime
FJB
Can we see that in hard copy?
Well, since prescription drugs like Remdesivir and Blood pressure meds are killing Americans, maybe, not a bad idea, or JUST get rid of all patent holding prescription drugs, that would really cut costs. Use drugs like Ivermectin, very cheap.
Evidence please?
I knew that’s what happen! Just for a hep shot it costs me $501 for Disability recipient! Never fails when a Dem is in office! He’s a freakn LIAR
He's ruining our country what a p o s
That's exactly what they said the GOP would do if they took control of Congress
What a lie
He has to make cuts to benefits for Americans so he can continue to send billions to Ukrainians.
And this inflation is killing us.
Well well well, the fn LIAR comes clean, Biden admits he conned the American public AGAIN. And the mind controlled fall for it once more.
Another lie. Short change our seniors but billions to Ukraine and Illegals
chipanna2000 Wrong once again Chuckie.
Before election, they claimed Republicans would cut Medicare/Medicaid. Once again accuse Reps for what they are doing.
Another midterm lie
Imagine that, he lief again.
Why is it always Medicare you cut and NEVER Medicaid? All that crap in the Primary about how the Republicans were going to cut SS and this and that and you are the ones cutting. Like Always you pay out everywhere but in your own country & to everyone except your own ppl
Makes sense because he sent all the money overseas!
KarenDoe50 you jerk..
Conservatives should love this. And he got out of the war in Afghanistan. Another promise mad promise kept
Piece of garbage 🗑️
Why is Biden trying to cut Medicare? I thought Democrats were all for it.
That’s the problem with our socialist government. This is how they rob a nation’s wealth- tax and inflation. Social services get you hooked, then they diminish quality of social services because they are too expensive.
Smells like student loan forgiveness
No way we voted for this turd.
See. They accuse the right of doing exactly what they themselves are doing. 1939 style.
Medicare Reduction Act
LOL Not funny at all, but the old bastid continues to deliver.
Typical….
This whole concept of you have to adopt it before you know what’s in it is insane and counter to the core of democracy.
🍑 h🥚l🥚e
But he keeps sending billions to Ukraine and their BS war. America Last is Biden's plan. 🖕😎🖕 FJB
Completely false.
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