For Immediate Release:
Contact: Kelly Broadway, 202-808-8853
kelly.broadway@cahc.net
Part D open enrollment next week, premiums for most popular plans continue to skyrocket
Washington, D.C. – Medicare Beneficiaries are in for an October surprise. Unfortunately, despite spending billions more in taxpayer dollars on a “demonstration project,” the Biden Administration has failed to stop the so-called “Inflation Reduction Act” (IRA) from raising premiums and eliminating many popular Medicare Part D drug plans.
Recent estimates show that most monthly premiums are significantly increasing even though the Administration promised the IRA would lower them and last-minute efforts through the taxpayer-paid demonstration to soften the blow of skyrocketing prices. This, coupled with 32 percent fewer plans to choose from – the lowest number ever – is far from the health care utopia seniors were promised.
“The ruse has gone on long enough. The Administration must come clean on the real cost impact the IRA is about to have on seniors,” said Joel White, President of the Council for Affordable Health Coverage. “Election year ploys, dishonest demonstration projects, and numbers sleight of hand won’t fool seniors when they choose their plan next week. It is clear the Inflation Reduction Act has failed seniors and taxpayers.”