AMAC Action is extremely disappointed to learn of the Centers for Medicare & Medicaid Services (CMS) recent announcement to raise the Medicare Part B premium by nearly $260 a year. CMS also announced a $30 increase in the annual deductible for Medicare Part B beneficiaries.
CMS noted early in a press release that most Medicare beneficiaries will see a 5.9 percent increase cost of living adjustment in their 2022 Social Security benefits which they say, “will more than cover the increase in the Medicare Part B premium.”
AMAC Action President Bob Carlstrom called out CMS’ rationale for the premium increase saying, “Any increase in Social Security benefits will already be diluted by the aggressive inflation afflicting our economy before beneficiaries receive it. This means that the increase in Part B premiums, which is the largest in the history of the program, will negatively influence a retiree’s cash flow. $260 may not sound like a lot to working people, but it can be a significant sum for seniors living on a fixed income.”
CMS Administrator Chiquita Brooks-LaSure cited how “rising drug costs threaten the affordability and sustainability of the Medicare program.” It does not make sense to raise the Medicare Part B premium and deductible, which covers physician services, to compensate for increased drug prices. AMAC Action suggests that if the Biden Administration were truly serious about lowering drug costs, they would make an effort to examine the business practices of pharmacy benefit managers (PBM), organizations that have been shown to have an adverse impact on the overall costs and prices for drugs.
Carlstrom continued, “It’s clear that the Biden Administration is using this premium increase as a ploy to push the Democrats’ proposal to lower drug costs by price-fixing pharmaceuticals, a strategy we believe will lead to decreased access to new and innovative therapies for people who need them most and potential drug rationing. AMAC Action will continue to fight for the well-being of America’s seniors and to make their needs a priority for this administration.”
Copyright © 2024 AMAC, Inc. / AMAC Senior Resources Network. All rights reserved.
Medicare is OVER WITH–I CANNOT GET MENTAL HEALTH or DSENTAl,all medicare is OVER!!GO TO A REAL INSURANCE AND PAY BIG BUCKS–THE RICH HAVE IT!!neither does Medicaid work!!All that govt. insurance is OVER WITH–MEDICARE TOO!!! You’ll have to srart paying cash!!
If one is in the so called “donut hole” paying a higher price for ones prescription consider a search / cost for the drug at Planetdrugs.com. Service was excellent with free shipping. They are out of Canada. Read the reviews. One prescription, a Tier 4 was at half the cost of what the insurance company would cover while in the donut hole.
The old saying holds true…the large print giveth, and the small print taketh. Seniors are always on the short end.
By increasing the SS benefit amount rather than holding or reducing Part B premiums, they are increasing the percentage of people whose payments are considered taxable, and also in some cases increasing the percentage of benefits that are taxable.
Humana is raising my prescription deductible to $480.00. I have to use inhalers and they’re a tier 3 drug. Prices are ridiculous, there’s so much gouging going on for everything a person or family needs that people can’t make ends meet. I hope, in time, some of these gouging companies and stores are going to price themselves right out of business.
I’ve been on Medicare for 15 years now. Every time we get a COLA, the deductible for Part B goes up. It sometimes takes all of it, but often 90+% leaving a few dollars a month increase. Only once did we get a COLA and received it all – no increase in Part B deduction. So what they’re planning for 2022 isn’t any different really.
It’s more than a coincidence to me that as we get an annual COLA, they raise the premium price to EXACTLY the COLA amount. Such a bogus attempt to placate our inflation concerns.
Increasing drug costs? Here is one way it works.
A SIMPLE EXAMPLE: For 19 Years I have paid a copay on my prescriptions with my supplemental private insurance company under Medicare. Then comes an increase in Medicare Part B premium and this year my cost shows zero copay for my prescriptions . With the premium increase, the GOV just took my cost-of-living increase and deposited it in my Part B premium cost and now offers my prescriptions for FREE. Multiply this by the number of recipients across the nation required to pay the premium increase and common sense tells one that everyone is paying the increased premium for FREE or reduced costs prescriptions for everyone (socialism?). This, to my way of thinking, is really the source for the increase in drug costs .
Also, why are certain TV media running constant Medicare ads about all of the new great FREE services being offered under Part C Medicare (upon calling the number, these ads are really being presented by those selling medical insurance). How can they offer all of these FREE services unless their being paid for through Medicare premium increases?.
Do you notice that the government always has funds to pay foreign aid to all those countries that really don’t like the US? When it comes to helping Seniors or Veterans. the governments action is ‘To he// with them’ Lets go Brandon
This is idiotic. I just ran an analysis for my wife’s Medicare prescription drug program, Part D. She can buy her prescription drugs cheaper using Sam’s Club Plus membership than any of three of the Medicare Part D plans we reviewed. We would NOT participate in the Part D program at all if it were not for the draconian cost imposed for delay in participation; 10% premium increase for each year of delay.
Today’s economy, brought to you by the Afghanistan and Southern Border administration.
Excellent article. Medicare is yet one more example, as if one is needed, that the left’s solution to EVERYTHING is more government, even when the problem to be “fixed” was caused by government. Instead of saying, “Let’s find the cause of high drug prices, and work on ways of bringing them down,” they just want to hire more regulators and :Pharmacy Benefit Managers,” whatever that is, that do absolutely NOTHING to make drugs more affordable. If anyone is unclear on any of this, here’s the skinny: Start by cutting red tape and useless bureaucracies that do nothing to make or keep people healthy. First to go? PBM’s!
More BS from an administration who clearly lies whenever their lips are moving. Biden makes obama and carter look brilliant when in fact they couldn’t tie shoelaces.
Biden destroys everything he touches his entire career and now is a prime example of when people should no longer be allowed to work due to an inability to remember who, what or where he is.
We pay more so he can give it to illegal immigrants. Brilliant move for a socialist state.
Just wait until they try and force us to give up the guns we have to defend ourselves against people the police can’t. Once they do that the mandates will start rolling in, for our own good since these people are clearly smarter than we are! Exactly who do they think is going to enforce that one since they can’t get the military or law enforcement into compliance and for good reason, THEY ARE NOT SHEEP. Beto and Biden themselves with Pelosi and her corrupt and thieving nephew Gavin Newsom as backup?
If the Biden administration were serious… ? These people have proven themselves to be a serious ENEMY who is serious about one thing
I am 69 years old and ever since I enrolled in Medicare Plan B at age 65, the yearly premium on Plan B has been increased. Even the Medicare insurance supplement plan (not an advantage plan) that I carry could not wait even 12 months before raising the premium. But, hay, it’s was all important that we spend trillions and trillions to bail out the elite politicians, elite banks, elite big corporations, infrastructure, illegal immigrants, planned parenthood and you name it. We have a current $30 TRILLION DEFICIT AND A FUTURE $100 TRILLION DEFICIT LIABILITY TO PAYOFF. It’s all DEFICIT (DEBT) money they are working with. The USA is basically INSOLVENT or BROKE. There is absolutely NO conversation or talk about living within our means by cutting spending and paying down the debt. If anyone does mention those things they are labeled a “domestic terrorist”, according to Nancy Pelousy. Government priorities are SCREWED UP. WAKE UP.
We must speak up loudly to our Representative’s about this 13% or more increase in fees. Let our voices be heard. Steve Turrentine
Joe Biden is not the legitimate President of the United States. He must be removed he cheated he cannot stay there.
This is so disheartening! The only medical premium for us that isn’t increasing is our vision plan. Drug plan, medical plan, and now Medicare are all increasing. For me, Social Security cost of living increase might be $37 per month – not counting the horrible inflation, and my my husband’s increase might be $23. It’s better than not getting anything at all, but it certainly doesn’t help significantly. God help us with this administration!
This fraudulent administration needs to go!!! Until then and until elected Republicans get tough we legal hardworking American taxpayers will continue to suffer!!!
The Biden government has free range to screw the American citizen any way they can. But the Republicans will cross the aisle every time to save the Democrats faces. Pass another multi-trillion dollar piece of LAW. Oh yes, the people in power are not “liked” but they are still in power passing whatever they want.
Doctors, hospitals and pharmacies are paid off by the government. Either that or they are being blackmailed or blackballed by the government for accepting all the money for each positive Covid case that they reported and for every patient placed on a respirator. I think we all should be a little leary when it comes to to all of them. I’m to the point where I don’t even want to go to the doctor for simple reasons. I’m supposed to get blood work done in January but the closer it gets the more I’m debating whether I want to go. I just don’t feel that the medical field is looking out for what is best for the patient anymore. I get tired of the jab being pushed on people.
Let’s go Brandon
I have always had Supplemental which has its own monthly premium plus a monthly Part D
premium. It seems to me that if someone want Medicare without a monthly premium and without
a monthly drug premium, they should just sign up for an Advantage plan.
Someone has to pay for brandon’s Infrastructure spending spree…
I am fortunate at age 79 to not be dependent on Rx drugs. I get it that a pill of one sort or another probably keeps many people going for a longer time than they otherwise would, if not taking, whatever. As amazing as they seem to be, pills are crutches at best, not cures. Crutches might be useful for a time but they should not become a way of life as they seem to have become in our country.
Why do I have to pay for someone else’s drugs?
How do I quit Medicare?
bit.ly/3Dh4vNQ
My property taxes have gone up 58.6% for next year!!!!
My husband was happy to hear about the COLA. Then I reminded him that the insurance rates will most definitely eat that up… I told him not to count on any extra $$. I was right…
Nothing like being bent over and getting it pushed up your behind!!! Current Part B is $148, so this is $112 more per month! If my math is correct, it is a 75.6% increase! And that’s not all that I’m getting hit with. My property taxes have gone up 58.6% for next year!!!!
I heard a report that the 14%+ increase in the Part B premium is due to the cost of a new Alzheimer drug. Shouldn’t that be reflected in Part D premiums, not Part B?
By continuing to put illegals and people that never paid into the system on Medicare prices will have no where to go but up! Medicare is intended for working US citizens and it needs to stay that way!
I read on one states health post that the elderly mainly in their 90’s who may need an extensive procedure, and even if they were in line for it first, that if someone in their 50’s needed that same proceedure that the person who is 90 would be less likely to get the proceedure. This is evil! People are living longer today because of the level of our technological capabilities. Some are living well beyond their 80’s and even 90’s. For insurance companies to play God with the lives of our most valued elderly population is abhorrent!! I hope AMAC will also get involved in this. May God help us all!
The deductible is going up as well, so with inflation, we are well in the hole in costs.
Now they’re coming for our 401K’s.
Just leave it to the federal government to “stick it” to the retirees and those on Medicare. They give huge benefits to illegal aliens, and leave hard working Americans to fend for themselves. You really have to wonder if there is any reason that the retirees would vote for any Marxist Democrat unless they were brain dead already. Of course then someone else would be casting their vote for the Democrat ticket. The Marxist Democrats do not care about seniors….and I cannot underscore that enough.
This happens every time we get an increase in our SS. The SSA gives with one hand and takes away with the other!
My social security payments is so low to begin with I am wondering if there will be anything left to live on. I watch ads on how people are getting health coverage for less than a $100 a month and wonder why ours is so high.
I think many Democrats, including the Biden Administration are invested in Big Pharma, and racking in fortunes from shots and mandates.
The COLA is to help cover our costs of living, NOT their price increases !
I currently pay $323 a month for medicare and supplements. Next year it will be $328 ONLY because I changed from Cigna that went up $20 to another provider which I am told will go up next October. Can’t change the Part B unfortunately. Those not on Medicare think seniors have it so good so they want it to. They don’t realize the cost for the medical. To get help for the Medicare and supplement premium my SS is $100 too much a month. I pay way more in premiums and co-pays than they have to pay out.
Too bad no one in our current government cares. This is intentional and malicious. Neither CMS nor any other agent of the federal government is protecting seniors, nor will they.
Thank you for posting this on our page. I have been waiting for updates from AMAC concerning this. Please, keep us posted to any new information, and what we can do, if anything, to mitigate the effects of this terrible decision.
Thank you for posting this on our page. I have been waiting for updates from AMAC concerning this. Please, keep us posted to any new information, and what we can do, if anything, to mitigate the effects of this terrible decision.