Kamala Harris claims that she’s going to solve the country’s problems as President.
But she already created a nightmare for everyone aged 65 and older.
And seniors are facing one ticking time bomb because of this awful Kamala Harris decision.
Medicare Advantage insurers pulling back
Vice President Kamala Harris and Democrats routinely claim that Republicans are going to Medicare.
Former President Donald Trump has vowed that he won’t touch Medicare or Social Security.
The truth is, Democrats have been waging war on Medicare for years to pay for their socialist spending spree.
Former President Barack Obama robbed $716 billion from Medicare to pay for the Affordable Care Act, also known as Obamacare.
Some of Obama’s Medicare cuts came from Medicare Advantage.
Democrats have Medicare Advantage in their crosshairs because the popular program is a private insurance alternative.
At least 51% of seniors enrolled in Medicare have an advantage plan.
The Biden-Harris administration cut base payments to Medicare Advantage plans earlier this year.
Now, major insurers that offer Medicare Advantage plans, including Aetna and Humana, are starting to pull back after the Biden-Harris cuts.
Seniors could face disruptions in the open enrollment period this year.
CVS Health CEO Karen Lynch – the parent company of Aetna – warned earlier this year that Aetna would have to react to the Biden-Harris cuts.
“While we strive to deliver benefit stability to seniors, we will be adjusting plan level benefits and exiting counties as we construct our bid for 2025,” Lynch said on an earnings call. “We are committed to improving margins.”
Humana, Centene, and other insurance companies have announced that they’re exiting Medicare Advantage in some markets because of costs and regulations.
Cigna announced that it was going to sell off its Medicare Advantage business.
Seniors could see increased premiums or insurers could cut benefits.
Medicare Part D bailout to save Kamala from an October surprise
The $1 trillion Inflation Reduction Act passed in 2022 was a green energy slush fund that was sold to a skeptical public by promising to decrease the price of prescription drugs for seniors.
The bill put a cap on the price of $2,000 that seniors would pay out of pocket for prescription drugs under Medicare Part D.
Insurers passed along their increased spending on prescription drugs back to customers in the form of higher premiums.
Premiums for Medicare Part D were set to spike by over 50% in some cases.
Seniors would get sticker shock in the open enrollment period right before the election.
Vice President Kamala Harris didn’t want to face voters angry about surging Medicare Part D costs after she boasted that she was bringing prices down.
That’s why the Centers for Medicare and Medicaid Services (CMS) used a $10 billion bailout disguised as a demonstration program to subsidize insurers to keep premiums down.
Former Trump domestic policy Joe Grogan warned that a day of reckoning is coming for Medicare Part D in an op-ed for RealClearPolicy because of the Inflation Reduction Act.
“After the election, policymakers will be left with unpalatable choices: if the demonstration expires, Part D will become too expensive for enough seniors to buy coverage and the program will die. Or taxpayers can be asked to stomach more spending. Either way, Part D’s success is destroyed,” Grogan explained.
