US announces big hike in Medicare premiums

[Jeffr2]

https://edition.cnn.com/2021/11/12/health/medicare-premium-hike/index.html

 

The federal government announced a large hike in Medicare premiums Friday night, blaming the pandemic but also what it called uncertainty over how much it may have to be forced to pay for a pricey and controversial new Alzheimer's drug.

 

The 14.5% increase in Part B premiums will take monthly payments for those in the lowest income bracket from $148.50 a month this year to $170.10 in 2022. Medicare Part B covers physician services, outpatient hospital services, certain home health services, medical equipment, and certain other medical and health services not covered by Medicare Part A, including medications given in doctors' offices.

[KhunLA]

So the govt give themselves a 14.5% inflation rate to Medicare, but if you're Soc Sec you only 5.9% 

 

Average gas price Jan 2021 ... $2.50

Average gas Price Now 2021... $3.75  ... up 50%

 

and inflation based Soc Sec COLA up 5.9% ... ????

Edited November 15, 2021 by KhunLA

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On 11/15/2021 at 10:20 AM, KhunLA said:

So the govt give themselves a 14.5% inflation rate to Medicare, but if you're Soc Sec you only 5.9% 

 

Average gas price Jan 2021 ... $2.50

Average gas Price Now 2021... $3.75  ... up 50%

 

and inflation based Soc Sec COLA up 5.9% ... ????

FDA’s Approval of Biogen’s New Alzheimer’s Drug Has Huge Cost Implications for Medicare and Beneficiaries

The question of what would happen when a new, expensive prescription drug comes to market for a disease like Alzheimer’s that afflicts millions of people has loomed large in discussions over drug prices in the U.S.—and now we’re about to find out. After a nearly 20-year dry spell in new treatments for Alzheimer’s disease, the Food and Drug Administration (FDA) just approved a new Alzheimer’s medication, Aduhelm (aducanumab), developed by Biogen, with an expected annual price tag of $56,000. While the scientific community debates the evidence of the effectiveness of this new drug, the FDA’s decision raises hope for Alzheimer’s patients and their families, along with serious cost concerns for patients and payers, particularly Medicare.

https://www.kff.org/medicare/issue-brief/fdas-approval-of-biogens-new-alzheimers-drug-has-huge-cost-implications-for-medicare-and-beneficiaries/

[olfu]

It  didnt hit news outlets in US I wonder why.

[Jeffr2]

1 hour ago, olfu said:

It  didnt hit news outlets in US I wonder why.

I guess you missed my CNN link above? It's all over the news.  But it's not headline news.  Too many other items are getting attention.  Covid, Kyle Rittenhouse, etc.

[bendejo]

23 hours ago, olfu said:

It  didnt hit news outlets in US I wonder why.

Friday night, and not by accident.  The overpaid honchos are off for the weekend, the Sunday papers have gone to press, and the weekend talk shows already have their guests and agendas lined up.  But I did catch it on the news feeds the next morning. 

This sucks.  They give with one hand (COLA increase) and take it back to the other.  Thank the people in Congress who are against harnessing runaway drug pricing.  You might be able to catch them boarding their yachts.

 

 

[sirineou]

When I was talking with my sister last week about the COLA increase in Social security, she said  "Yea and they are going to increase Medicare "

She called it.!!

[bendejo]

There was some stuff about prescription drug prices in the recent bill before Congress that members who accept donations from the pharmaceutical companies were holding things up till it got removed (one is named Sinema).  My guess it was announced as soon as the issue was dropped: they were in a hurry to get the increase in before the Dec. 1st deadline for next year's SS/Medicare.

Other than those who profit from this, there is no reason any ordinary citizen with any intelligence would have been in favor of such a thing.  Disgusting.

 

Big Pharma’s Favorite Democrats Saved the Drug Industry Half a Trillion Dollars

 

 

Edited November 17, 2021 by bendejo

[meechai]

They tell us that we just don't have enough money to expand Medicare, guarantee paid family and medical leave, and address the climate crisis to the degree that we should if we want to protect the well-being of future generations.

 

Yet, tomorrow, the U.S. Senate will be voting on an annual defense budget that costs $778 billion—$37 billion more than Trump's last defense budget and $25 billion more than what President Biden requested.  All this for an agency, the Department of Defense, that continues to have massive fraud and cost overruns year after year and is the only major government agency not to successfully complete an independent audit.   

 

https://jessescrossroadscafe.blogspot.com/2021/11/stocks-and-precious-metals-charts_17.html

Edited November 18, 2021 by meechai