Progressives slam HHS decision to keep higher 2022 Medicare premium

[867-5309.]

Progressives are criticizing the Biden administration’s recent announcement that the 2022 Medicare premium will not be cut despite lower-than-expected costs for a new Alzheimer’s medicine.

The cost of a premium jumped by $21.60 to a minimum of $170.10 and a maximum of $578.30 in 2022, the largest increase in the program’s history. Premiums are based in part on income and tax-filing status...

Alex Lawson, executive director for the progressive group Social Security Works, slammed the administration’s decision to not lower premiums until next year, calling it “bogus.”

Faiz Shakir, an adviser to Sen. Bernie Sanders (I-Vt.), called on the Biden administration to send out rebate checks to Medicare recipients this year, while fellow Sanders staffer Warren Gunnels tweeted: “Imagine being able to put more money in the pockets of senior citizens who are struggling to put food on the table right now and doing nothing instead. This is how you blow a slam dunk.”...

https://news.yahoo.com/progressives-slam-hhs-decision-keep-100000675.html


Biggest problem? This new Alzheimer’s medicine had an annual cost of $56,000, before the company halved this price. How generous, Big Pharma!

[kacekwl]

1. I know the Democratic party are having a hard time passing

a lot of laws but it's disappointing when the easy things get passed over for seemingly no reason.

[KPN]

7. Sure seems like that with this story. But then,

what’s new? This kind of thing has seemingly happened for many years now. Note that I said seemingly because I’m open to logical refutations. But man, a lot of stuff has happened that falls short in that timeframe. Can’t just erase that with “oh wells, you know, the other party”.

Fire away if you must.

[FoxNewsSucks]

2. But at least we can take solace in knowing

that protesters outside SCROTUS homes was deemed to be worth a swift legislative action

[leftstreet]

3. DURec

[Elwood P Dowd]

4. Massive choke job.

Who the hell is advising Biden and HHS about this?

[dalton99a]

5. This is fucked up.

[Ferrets are Cool]

6. K and R for visibility

[KPN]

8. Just Geesh! nt

[betsuni]

9. Savings from lower spending will be passed on to beneficiaries next year.

Secretary of HHS said so.

[myohmy2]

10. this is not...

...going to make people cheer come November...

" Imagine being able to put more money in the pockets of senior citizens who are struggling to put food on the table right now and doing nothing instead. "

...we'll probably get chumped on COLA this year too...

...at nearly $6.00 a gallon for regular unleaded they must think we're rolling in dough...

...this will not be forgotten...

...

[BumRushDaShow]

11. "...we'll probably get chumped on COLA this year too..."

Right now, based on the April data, the COLA is almost 3% higher than last year's (8.6% vs 5.9%) - https://www.cnbc.com/2022/05/11/high-inflation-points-to-bigger-social-security-cola-in-2023.html

Still have to wait to see what happens with the July & October data (I think the Oct. report would be the final one when they announce the COLA).

It's still not enough but I'll take what I can get!! Before I retired, I remember as a fed, several years (including in a row) with zero increase.

[Celerity]

12. also from your article: To be sure, a bigger cost-of-living adjustment for 2023 is not guaranteed.

To calculate the COLA each year, the Social Security Administration compares CPI-W data from the third quarter to the third quarter of the prior year.

If inflation subsides, there is the possibility of a lower adjustment, or even no increase, for next year or in 2024.

Much of that will depend on how fast the Federal Reserve’s efforts to tamp down inflation by raising interest rates take effect, according to Mary Johnson, Social Security and Medicare policy analyst at the Senior Citizens League.

“I think the action at the Fed is going to slow things down,” Johnson said.

[BumRushDaShow]

13. I doubt that the Fed can cut the inflation that quickly to make much of dent by October

especially as long as the price gouging continues (on purpose) and has even ratcheted up ahead of the November elections. After that, we'll see...

It'll definitely be higher than last year's 5.9% (which had originally been estimated to be ~6% at the time).

[Celerity]

14. Actually it would be great if they did (Fed can cut the inflation that quickly to make much of dent

by October)

on damn near every level (especially for the less wealthy and even more so for our 2022 election chances)

[BumRushDaShow]

15. I think everyone is hoping the same

but as I heard overnight here in Philly, that the first $5/gal gas has been spotted in the area - this type of thing happens when you have these other circumstances like a (fake) "lack of supply" being used to justify price increases for a variety of things - and I expect poultry is next with a "real" supply problem due to the bird flu raging around the country killing millions of laying and frying chickens, so there will still be those inflationary "price issues".

[myohmy2]

16. as far as I know...

...they don't calculate the price of gasoline in our COLA...

...I don't know about you but the price of gasoline is biting me hard...I have to drive almost daily...

...I have a feeling the fossil fuel industry is keeping refining activity low...they're raping us because they can (like usual)...I'd somehow use the Defense Authorization Act to 'inspire' the oil industry to do the right thing...record profits should mean record taxation but that's not going to happen...

...now if Bernie were in charge, the fossil fuel industry would have a lot of explaining to do before receiving painful presidential repercussions...I'm not sure what repercussions, but I'm confident Bernie would come up with something...

...the price of gasoline alone is going to kill us in November...

...not good...