CAHC’s Joel White was spotlighted in the most recent edition of the Galen Institute’s newsletter. The newsletter highlighted Joel’s recent op-ed in Townhall on the Inflation Reduction Act’s impact on Medicare Part D premiums.
Joel White of the Council for Affordable Health Coverage says seniors are paying the price for other Biden administration policies through higher premiums for their prescription drug plans.
The mis-named Inflation “Reduction” Act is the culprit. Democrats want to tell voters they are reducing drug costs, but the moves just push “costs back to consumers through higher premiums and tighter management on access to drugs.”
He explains that this year’s Part D premiums “have increased by a crushing 21%, on average. Next year’s prices are expected to be even higher”—as much as 50% higher. “Just as President Biden campaigns on ‘lowering drug costs’ this fall, many seniors’ jaws will drop over sky-high premiums for the prescription drug benefits they need.”
Because of IRA changes, “Part D insurers are aggressively cutting costs by adding more ‘prior authorization’ requirements and pushing patients toward the cheapest therapies first,” White writes.
“None of this damage was necessary. Bipartisan proposals to redesign the drug benefit in a smarter, less disruptive way were proposed—but ignored in the interest of rushing a partisan bill through Congress.
“More than 50 million American seniors are enrolled in Medicare. They were told the Biden administration was improving the drug benefit. They’re now learning the IRA is breaking it.”