Progressives Applaud Biden for Lowering Medicare Part B Premiums
Progressives cheered Tuesday after the Biden administration announced that Medicare beneficiaries will see their Part B premiums and deductibles decrease in 2023, the first time in more than a decade that seniors and people with disabilities will pay less for health services and medical equipment that Part A does not cover than they did the year before.
According to the Center for Medicare & Medicaid Services, the standard monthly premium for Part B enrollees will be $164.90 in 2023, a decrease of $5.20 from 2022. The annual deductible for all recipients will be $226, a decrease of $7 from this year.
As CNN reported: “The reduction, that Health and Human Services Secretary Xavier Becerra signaled earlier this year, comes after a large spike in 2022 premiums. Medicare beneficiaries had to contend with a 14.5% increase in Part B premiums for 2022, which raised the monthly payments for those in the lowest income bracket to $170.10, up from $148.50 in 2021.”
Social Security Works president Nancy Altman called the announcement “excellent news for seniors and people with disabilities who receive Medicare, most of whom have these premiums deducted directly from their Social Security payments.”
“Importantly, Medicare beneficiaries will now get to keep all of next year’s Social Security cost-of-living adjustment (COLA),” Altman continued. “In past years, rising Medicare premiums have often consumed most or even all of the COLA increase for many beneficiaries. But next year, thanks to Medicare’s wise decision to limit coverage of the ineffective and wildly overpriced drug Aduhelm, that will not happen.”
The White House received criticism for not immediately reversing this year’s Aduhelm-induced Medicare premium hike after federal health officials opted to restrict coverage of the exorbitantly priced and potentially dangerous Alzheimer’s drug and ignored Sen. Bernie Sanders’ (I-Vt.) call to provide refunds to those affected, so progressives welcomed Tuesday’s long-awaited announcement.
In a statement, Senate Finance Committee Chair Ron Wyden (D-Ore.), who earlier this year urged the Biden administration to take action to reduce Medicare Part B premiums, said that he is “very pleased that older Americans will see lower healthcare costs next year.”
Originally published at Commondreams.org.
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