BBB’s frivolous $7 billion handout to teaching hospitals – the second such gift within the past two years - doesn’t help with the insolvency dateĭemocrats are not the only political party to use the full force of legislation to grind axes Republicans do it too. But why do Medicare beneficiaries have to pay for it? Earlier this summer, the Medicare Trustees reported the Hospital Insurance Trust would be bankrupt by 2026. Last week, the Biden administration announced a 15-year historic high increase in Medicare Part B premiums of nearly $22 per month for seniors on fixed incomes. Medicare is not on solid ground even without the extra burden of the BBB. Perhaps not coincidentally, the Pew Research Center found a higher percentage of individuals 65 years and older lean Republican. Democrats are cutting Medicare and refuse to reinvest all the savings back into the program. The Democrats’ biggest ax to grind maybe with Medicare beneficiaries and is probably purely partisan. over this decade and 30 fewer over the next decade. Fewer new and innovative drugs mean more suffering patients and more preventable deaths. Some Democrats seem willing to incur those preventable deaths if it means they can settle political scores with drug companies. Here’s the critical part: CBO estimates the drug cuts will lead to 8 fewer drugs in the U.S. The legislation cuts $283 Billion out of Medicare prescription drug coverage. Maybe that is payback for the $23 million that PhRMA (pharmaceutical association) has already invested in lobbying this year. Inexplicably, other programs, like Medicare, only offer premium reductions at 133% of the Federal Poverty Level.īig Pharma doesn’t escape. Obamacare was initially passed under partisan reconciliation, and the Democrats are pursuing the same course concerning its expansion. This ax-grinding is directed at congressional Republicans. The legislation proposes to spend $102 billion on Obamacare private exchanges. The most expensive item is $44 billion for monthly premium reductions. Numerous economists have concluded that 65% of new exchange enrollees would have income above 400% of the federal poverty level (or more than $105,000 for a family of four).
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