Anuzis Claims Biden’s Plans are Increasing Costs for Seniors

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TL/DR –

President Joe Biden’s multi-trillion-dollar spending spree contributed significantly to a 9.1% inflation spike in June 2022, the highest in over 40 years. The administration’s response, the “Inflation Reduction Act”, has reportedly increased monthly premiums for Medicare Part D by 21% on average, with three major Medicare insurance providers seeing increases of 33% to 57% in a single year. The analysis predicts a further increase of nearly 50% next year due to these policies taking full effect, which is likely to hit seniors, who often live on fixed incomes, especially hard.


Biden’s Spending Spree Leads to Spike in Inflation and Rising Medicare Premiums

President Joe Biden’s multi-trillion-dollar spending spree has significantly contributed to a 9.1% inflation spike in June 2022. This inflation rate is the highest in over four decades. The alarming inflation rates led the Biden administration to concoct another spending spree, which was rechristened the “Inflation Reduction Act”.

Despite its name, the Inflation Reduction Act served more as a conduit for advancing Democratic priorities, rather than curbing inflation. This has led to an increase in health care costs for the public instead of lowering them, as promised. The law’s real-world effects are most apparent in the Medicare Part D insurance program.

Medicare Part D, which provides prescription drug coverage to over 50 million elderly Americans, has seen a surge in premiums following structural changes by the Inflation Reduction Act. This has offset any promised “savings”, as evidenced by a 21% average increase in premiums for standalone prescription drug plans in 2024.

Major Medicare insurance providers like Cigna, Humana, and Aetna experienced premium increases between 33% to 57% within a year. This alarming rise has shaken family finances. Furthermore, as new administration policies take full effect, Medicare premiums are slated to increase even more in 2025.

One analysis projects an almost 50% increase in premiums next year. This increase is especially hard for the elderly, who are grappling with dwindling savings due to years of inflation and the rising cost of living. High monthly premiums and cost-sharing requirements have become the top complaints among Medicare enrollees.

Despite the price concerns, Medicare patients have been generally satisfied with the program due to its flexibility. However, the number of standalone Part D plans has dropped to an all-time low, posing challenges to seniors in finding affordable plans that fit their needs. In essence, the Democratic reforms have made Medicare less popular and more expensive.

The evident failure of Biden’s strategy to lower healthcare costs calls for a radical reexamination and a fresh start for his administration.

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