Biden Admin: No Decrease In Medicare Premiums
Last year, the Centers for Medicare and Medicaid Services (CMS) announced an historic 14.5% increase in Medicare Part B premiums, taking the average monthly cost from $148.50 to $170.10.
Amid inflation for a population that largely relies on a fixed income, a monthly increase of about $21.60 – or $259.20 per year – is hard to manage.
The announced increase is the largest in Medicare’s history. AARP blames three main culprits: rising cost of health care, holding back past increases, and a controversial Alzheimer’s drug called Aduhelm in the future.
However, thanks to my old favorite MTV presenter turned comedian and now YouTuber political provocateur, this story may get a little more interest than it’s gotten so far. So before we dive into why premiums aren’t getting decreased mid-year, let’s take a look at the catalyst for the price hike.
Controversial Drug Approval
The announcement that Biogen, a pharmaceutical manufacturer, had produced a drug able to treat Alzheimer’s was met with optimism and hope for the close to 5.6 million elderly Americans inflicted with the disease.
However, not everyone shared the same excitement. The FDA approved the drug despite the general unanimous decision by an 11-member outside advisory panel to disapprove the drug. Ten members voted no, and one was uncertain.
The approval sparked a slew of FDA resignations, including Aaron Kesselheim, professor of medicine at Harvard Medical School. Kesselheim wrote in his resignation letter that approval of Aduhelm was; “…probably the worst …