The following content is Americans want limited government.
One typical strategy often found in the Obama/Biden playbook sounds good in the short term, but the long term impact is rear Elections. That way, even if the Democrats win, they won’t be held accountable by voters. but If they lose, they can blame Republicans when things go wrong.
This was no doubt one of the ideas the Biden Administration had in mind with its infuriatingly misnamed Inflation Control Act (IRA), a disastrous bill that has not only destroyed Americans’ wallets, but their health as well.
Slipping into the IRA was a poorly drafted provision that sought to lower out-of-pocket costs for prescription drugs. The IRA would lower seniors’ out-of-pocket limits from about $3,300 to $2,000 by shifting the $1,300 difference to the insurance company. Not surprisingly, insurers would then pass on the cost to consumers in the form of higher premiums and restrictions on prescription drug access.
Medicare Part D premiums have risen by more than 20% this year for the more than 50 million Americans who are enrolled, and could rise another 50% or more in 2025. With President Biden campaigning on “fighting big pharma to lower drug costs,” hopefully people will carefully weigh these price hikes when enrollment opens in October.
The clever design of the Medicare Part D program 20 years ago was to harness competition. Embracing the free market principle that competition leads to lower prices, Part D allowed private insurance plans to compete for Medicare funds, keeping costs low and saving seniors money.
With more private plans competing, seniors have more choices and more control over their health care, and more than 1,400 plans have quickly enrolled in Part D, making the program affordable and affordable for families on a budget. Saving money for seniors.
But the Biden administration wants to roll back all of that.
Another way Part D insurers could reduce the costs they pay into IRAs is by adding more “prior authorization” requirements, steering patients toward the cheapest treatments rather than the most effective ones.
But some are abandoning the plan altogether. By 2024, the number of prescription drug plans will be cut to less than half of what they were at the start, making them the smallest selection in their 20-year history.
Nearly 100 plans have disappeared in 2023 alone, and who knows how many more will disappear next year?
Less competition means higher prices and Biden inflation will erode beneficiaries’ ability to pay. This will hit people on fixed or low incomes the hardest. One study found that the number of Part D plans available to low-income beneficiaries is one third Just in the past year alone.
One of the major health insurance companies, Mutual of Omaha, recently signaled it will exit the Part D market in 2025, forcing roughly 200,000 seniors (hopefully all of them informed voters in Rust Belt battleground states) to find new plans among increasingly fewer options. As time goes on, unless changes are made, the situation will only get worse, with seniors having fewer options while being told by uninterested Democrats how much they’ve helped them.
The Biden Administration has ruined America’s healthcare system along with the economy, immigration, foreign policy, the future of humanity, etc. And as everyone knows, most people seem to be aware of their dirty strategy. They are lying about this issueIf they are defeated in November, President Trump and his allies will have their hands full trying to repair the damage. The good news is that they are up to the task.
