US Senate News:
Source: United States Senator for Kansas Roger Marshall
“Democrats failed to appreciate that there’s no such thing as a free entitlement expansion.”
Washington, D.C. – The Wall Street Journal’s Editorial Board recently published a piece titled, “A Medicare Election Bribe for Seniors.” In the piece, the Editorial Board exposes a new Harris-Biden Administration subsidy for large insurance companies as a deficit-busting, cynical attempt at influencing American seniors ahead of the November election.
You may click HERE or on the image above to read the Editorial Board’s take on this Harris-Biden Administration policy.
Topline takeaways from the article:
The Biden-Harris Administration “announced lower Medicare prescription drug premiums, which will naturally be paid for by taxpayers.”
“The political irony is that Biden officials are increasing subsidies to insurers they otherwise vilify to mitigate pre-election harm from the Inflation Reduction Act.”
“CMS uses a complicated formula to subsidize premiums, but healthcare analysts projected that premiums would rise by hundreds of dollars.”
“Insurers projected that Part D premiums would balloon next year, when the $2,000 cap and other freebies kick in. Providing basic Part D benefits next year is estimated to cost $179.45 a month on average, up from $64.28 this year and $34.71 in 2023, according to CMS.”
“Some insurers warned they might exit the market to avoid losing money. Seniors are notified of the premium spikes before open enrollment begins in mid-October. Talk about a surprise bill.”
The nonpartisan Congressional Budget Office (CBO) estimates this plan would cost taxpayers an extra $5 billion next year alone. You may click HERE to read CBO’s analysis of this policy.