Inflation Reduction Act: Seniors Pay The Price! | Andy Mangione on Stinchfield Tonight

Grant Stinchfield and AMAC Action’s Andy Mangione expose how Biden’s so-called Inflation Reduction Act is failing Americans, particularly seniors. Despite claims of reducing inflation, the bill has led to skyrocketing costs and fewer choices for Medicare beneficiaries. Find out how the Green New Deal spending is impacting seniors’ health care and why it’s causing premiums to soar. Watch now to understand the real consequences of this legislation.

Plus, learn how you can join the fight to protect our elections and support AMAC’s efforts to safeguard our democratic process.

Full Transcript:

Grant Stinchfield: Folks, Joe Biden admitted it. We told you the quote inflation reduction act wasn’t about reducing inflation. It was about spending money and what the environment and a green new deal. Listen to this.  


Joe Biden Video Clip: My, my investments that through my investments, the most significant climate change law ever. And by the way, it is a 369 billion bill. 


It’s called the, we should have named it what it was, but, but at any rate.  


Grant Stinchfield: Oh, anyway, that’s what he always says. 369 billion into the economy is only going to send prices skyrocketing. joining me now from AMAC action, senior vice president over there, Andy Mangione is with us. Andy, you had to laugh when you saw that one. 


Andy Mangione: it’s just so flippant at any rate, paying for all those green new deals on the backs of Medicare beneficiaries. It’s really disgusting.  


Grant Stinchfield: I know Medicare is huge for AMAC members, right? And how do you navigate all of this? you, wanted to raise awareness of something going on with, the inflation reduction act and Medicare, what’s happening. 


Andy Mangione: What’s going on right now is that the Inflation Reduction Act was supposed to make the Part D benefit, the Medicare Part D benefit, richer by mandating lower out of pocket caps and limiting base premium increases. But because of these mandates, Grant, Plan sponsors are scrambling to offer competitive, competitively priced coverage. 


So what we’re seeing in reality is increased out of pocket expenses, consolidate and consolidation of the insurance market. And what that means when you consolidate the insurance market is fewer plan choices for beneficiaries. And here’s the kicker grant. The Part D redesign as a result of the Inflation Reduction Act caused the highest increase. 


One year increase in premiums since the implementation of Medicare Part D over a 20 percent increase this year and premiums are expected to rise another 50 percent next year because of the Inflation Reduction Act.  


Grant Stinchfield: So we spend nearly 400 billion and seniors who don’t have all that kind of money lying around as it is now have a 20 percent increase and less, beneficiaries to all of this. 


And this is the bill I want to remind everybody that Kamala Harris. Was the tie breaking vote on to get passed through and really people got hammered,  


Andy Mangione: Andy, without a doubt. Remember how the IRA touted that drug costs would come down because Medicare can now negotiate with drug companies. the journal of the American medical association study showed concerns related to future access among the drugs selected for this Medicare price negotiation. 


So what we’re going to see are plans likely to implement it. Utilization, management, strategies like prior authorization, step therapy as a result of the increased costs because caused by the Inflation Reduction Act and get this grant. Major drug companies have, major drug companies have already cited the Inflation Reduction Act as the reason for pulling back and discontinuing their development of new drugs. 


They’re stopping research and development because they don’t have the money to do So what this means are fewer compounds coming to the market and who’s, who is going to be hurt the most by that senior citizens.  


Grant Stinchfield: Seniors. Of course they are. Lastly, before I let you go, all of this is the reason why we want to take back this country and all of us seniors. 


Juniors. I don’t care who we have to play our part in this, September 14th. You have a boot camp for boomers coming up in Long Island real quick. If you can tell me about it, what’s the goal here?  


Andy Mangione: The goal here is to inspire, inform, and motivate to get people involved, to put New York in play, and to turn it red. 


There’s going to be wonderful speakers, including gubernatorial candidate Lee Zeldin, former Trump advisor Peter Navarro, and AMAC’s own CEO Rebecca Weber. It’s going to be a great event.  


Grant Stinchfield: Yeah, it sounds awesome. all those people are fabulous folks. So I urge people to go September 14th in Long Island. 


And here’s where you get information. Just go to the AMAC website and I would urge people to join as well. Annie, I’m gonna tell ’em how to do that. Thank you so much for coming on today. Go to amac.us/stinchfield, amac.us/stinchfield, to join and, it is about joining a group of absolute patriots. 


I’m a member. And I’m a proud member, by the way, so I would urge you to be one too. AMAC.US/Stinchfield. And if you’re in or around Long Island, New York on September 14th, go check out that bootcamp. All right. One of President Trump’s comments last night proved why, proves why he is great on the fly and doing the kinds of interviews that Kamala cannot.