CONTACT: Michael DeSantis
michael@americancommitment.org
Biden-Harris Administration claimed the IRA would lower inflation and health care costs for older Americans; instead, it spiked premiums by 20% or more and raided an est. $260 billion in Medicare “savings” to help pay for costly special interest handouts like electric vehicle tax credits and subsidies paid to big insurers
Washington, D.C. — August 1, 2024 — American Commitment’s Commitment to Seniors project has launched a national and multi-state “End the Raid” on Medicare petition, grassroots mobilization and paid media campaign urging Members of Congress to immediately address the costly failures of the Inflation Reduction Act (IRA) and the negative financial impacts it is having on older Americans. The IRA was promoted to seniors as a means to lower health care costs, improve access to care, and strengthen the Medicare program. Nearly two years after its passage, however, the IRA has proven to have done much the opposite, including the diversion of an estimated $260 billion in projected Medicare drug savings to pay for special interest handouts like large tax credits for costly electric vehicles, enormous subsidies paid to big health insurer-PBM corporations, and funding health care programs for illegal immigrants. Further adverse impacts of the IRA impacting seniors include:
- Skyrocketing Medicare Costs: Part D premiums have surged 20% or more.
- Fewer Medicare Options: With the number of available plan options dwindling to a record low, two million seniors enrolled in Medicare are now at risk of losing their current Part D Plans.
- Patient Access Restrictions: Aggressive insurer-imposed prior authorizations and potential new access restrictions to critical treatments are increasingly threatening seniors’ quality of care.
“The Biden-Harris Administration and Congressional Democrats lied to older Americans when they promised the Inflation Reduction Act would lower their health care costs, improve access, and strengthen the Medicare program,” said President of American Commitment, Phil Kerpen. “Immediately after its passage, the IRA covertly diverted over $260 billion dollars in so-called Medicare ‘savings’ to pay for liberal Democrats’ pet spending projects like costly electric vehicle tax credits and billions in unrelated subsidies paid to big insurers. That’s not strengthening Medicare, that’s stealing from Medicare. The IRA passed on a party-line vote in 2022 and Commitment to Seniors will be working to support efforts of those who wisely opposed the law then, and who now seek to end the IRA’s raid on our nation’s seniors.”
Commitment to Seniors believes there are far better free-market solutions to lower health care costs that put patients, families, and older Americans first – not liberal politicians and corporate special interests. To address the failures of the IRA, Congress should immediately recall funds that the spending bill diverted from Medicare and implement changes aimed at reducing premiums, prohibiting insurer-PBM corporations from pocketing big drug pricing rebates, and preventing access restrictions to critical treatments.
“Older Americans now know what was promised by Democrat leaders and the insurer-funded AARP about the IRA was false,” said Bob Johnson, a retiree and senior advisor to Commitment to Seniors who previously served as president of the Insurance Federation of Minnesota. “Medicare premiums are soaring, nearly two million seniors are at risk of losing their current Part D drug plans, and patients now face non-stop insurer-imposed prior authorization requirements and potential access restrictions to treatments. Liberal politicians used Medicare as a piggy bank, big insurer-PBMs and AARP got richer, and older Americans and taxpayers are suffering the consequences while also paying the bill.”
Please visit www.EndTheRaid.org to stay engaged and informed as we work together to protect patients and older Americans.
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American Commitment is dedicated to restoring and protecting our nation’s commitment to free markets, economic growth, constitutionally limited government, property rights, and individual freedom. American Commitment engages in critical public policy fights over the size and intrusiveness of government through direct advocacy, strategic policy analysis, and grassroots mobilization. Visit us online at www.AmericanCommitment.org.