"Health Care Savings" Democrats are Pushing are a Fraud. Big Pharma Wins Again

I've been calling this The October Surprise.

It is a bit complicated, but I will do my best.

First, Barron's and many other publications leaked the news that this year's COLA will be the largest ever---somewhere between 10% to 11.4%. (It is usual for this news to get out now and the official notice will come later on in October.)

https://www.barrons.com/articles/social-security-cpi-inflation-2023-cola...

Furthermore, the despised and historically large Medicare Prescription Drug portion that Seniors pay every month jumped so high last year, that low-income seniors saw almost all of last year's COLA wiped out!

Biden took a lot of heat for that. AS you might image. This year, perched just before the November Election, is strategic. Obviously. So, the rumor is that the Prescription Drug payment might even go Down a bit. Ok. We will see.

The second bit of info we got this week comes from Bloomberg and at first it was kind of evasive.

Bloomberg tells us
From an article titled Winners and Losers in the New Senate Bill...

Under-- Winners----

Medicare, Obamacare Enrolees-

"The final version of the bill 1)caps seniors' out-of-pocket prescription drug expenses to $2,000 per year, and 2) enables Medicare to negotiate the prices on 10 medications four years from now. 3) The bill also kicks the can on a massive increase in Obamacare premiums that were set to happen in January for many middle income Americans, which will now happen in three years."

Got that?
1) Caps Out-of-pocket expenses to $2,000 per year. Bloomberg does not say When this Cap begins.
I dug a bit and it starts in 2025.

2) Negotiate prices? ONLY 10 drugs. Beginning in 4 years. If you take one of the 99,999 other medications you are SOOL.

3) Delays Increases on premiums for 3 years---this is good.

___ ___ ___ ___ ___

If you have had enough, stop reading now.... if not

The increased COLAS are paid for from the printers, or whatever accounting they do now.

Lowering drug costs will impact Pharma.

Increasing the Medicare prescription drug payment last year supported the Health Industry.

It cost US.

THIS is what guides these decisions and feints---look like they are giving us something as long as it does not cost corporations or especially, Pharma.

The GOOD Solution would be a Cap tied to the COLA. COLA goes up---so does the prescription drug out-of pocket cap.

So simple.

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Cassiodorus's picture

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"The future is inside us/ It's not somewhere else." -- Radiohead

snoopydawg's picture

I appreciate the information. I thought the increase was going to happen next year? It’s based on the non working Alzheimer’s drug that after it got approved was not approved?

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It is not until the tide goes out that you discover who has been swimming naked.

@snoopydawg Nothing happens at all.

Next year.

Or the year after.

Three or four years in best case and Who knows if anything will be happening then?

The Evening Update is that Congress passed this and the my local politicians are busy selling the idea that this is coming soon. No wonder you are confused about the When aspect.

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NYCVG

get so captured by Pharma that what is left is a pittance, people won't bitch when it is fully privatized, and they get nothing at all.
Baby steps.

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the MSM will not expose the fine print.

Thanks for your efforts NYCVG.

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@humphrey @humphrey This is the stuff I cannot let go of.

The song, Won't get fooled again comes to mind.

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NYCVG

snoopydawg's picture

@humphrey

Orange state is cheering the climate bill congress just passed and I tweeted it asking how could they not know how bad it is since it’s a huge giveaway to big oil because it opens more areas to drilling and only 10 drugs are included and it doesn’t go into effect until 2025. Thanks for that information too nycvg. Maybe if the kids focused more on what democrats are doing instead of the republicans they could start seeing how badly democrats screw us.

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It is not until the tide goes out that you discover who has been swimming naked.

@snoopydawg @snoopydawg to understand.

Understanding the situation we are in changes more than your opinion on any given matter.

In humans, Hope is the last thing to go. That's what the Democrats are counting on and our very few informed voices are not heard.

99% of us believe that something good is just around the corner as far as assistance with health care costs.

It most emphatically is NOT.

Just as many believed that Eviction protection help would be coming. It did NOT. It will Not.

Student Debt relief? I do not think so. Like Obama, maybe Biden will offer something inconsequential and throw a national bash to celebrate. Or not.

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NYCVG