As if runaway inflation that is causing prices to rise dramatically on essentials like gas, heating fuel, and food, the Biden White House is now implementing a dramatic increase in Medicare premiums as well which will reach into the fixed-income pockets of millions of older Americans.
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Via The Epoch Times:
President Joe Biden’s administration on Friday announced it is raising Medicare premiums, a move it blamed in part on the cost of drugs.
The Medicare Part B standard monthly premium will rise by nearly $22 to $170.10 next year, the Centers for Medicare & Medicaid Services said.
“The increase in the Part B premium for 2022 is continued evidence that rising drug costs threaten the affordability and sustainability of the Medicare program,” Chiquita Brooks-LaSure, administrator of the agency, said in a statement.
In addition to the monthly premium, the annual deductible will rise from $203 to $233. Also, Medicare Part A inpatient deductibles will jump $72 to $1,556 next year, and Medicare part A daily coinsurance and skilled nursing facility coinsurance will both increase at least $9.