U.S. Representative Anna Eshoo outlined changes to Medicare for hundreds of Peninsula voters who logged on virtually at a town hall last week, highlighting upcoming revisions as a result of the Consumption Reduction Act. inflation.
If you find the existing Medicare rules confusing, you’re not alone.
“I have to say I find it confusing,” Eshoo said of how to avoid penalties for not enrolling in the government’s insurance scheme at age 65. “And if I find that confusing, some of my constituents will too.”
While the changes coming in the new year likely won’t make the rules governing Medicare any less confusing, they could make coverage more affordable for many of the 65 million Americans who rely on government coverage in their prime years. gold. These changes notably allow Medicare managers to negotiate drug prices with pharmaceutical companies, as the Veterans Administration does. Additionally, all vaccines recommended by the US Centers for Disease Control and Prevention will be available free of charge and there will be a hard cap on drugs covered by Part D by 2025.
Health insurance is a priority for many at this time of year. The open registration period extends until December 7th. Eshoo has made it clear that as chair of the House health subcommittee, she considers the program vital to Americans.
“Medicare is a program that makes this country stronger. It’s a democratization of benefits for those over 65,” Eshoo said. “It’s so fundamental to the lives of my constituents and people across the country.
Several questions during the virtual town hall focused on the viability of Medicare going forward. Earlier this year, administrators of the federal program warned that the trust fund that underpins Part A hospital benefits will be depleted by 2028, creating a crisis for a program that is adding about 10,000 Americans a day.
Last week, top Republicans signaled that if they took control of Congress after the midterm elections, they could combine discussions of raising the national debt ceiling with spending cuts that could include health benefits. Medicare and Social Security. Eshoo promised a fight.
“I think it’s a disastrous policy,” Eshoo said, adding that privatizing Medicare would mean “Armageddon for the elderly and I’m not saying that to scare people. I also think there would be a revolution.” in the field.
Despite dark clouds looming over the financial sustainability of the program, the passage of the Inflation Reduction Act results in short-term cost savings. Starting Jan. 1, each insulin product would be capped at $35 per month, and starting in 2025, the out-of-pocket for drugs covered by Part D would be capped at $2,000 per year.
Eshoo urged voters to learn about upcoming changes in coverage and make changes well before the end of Dec. 7 to open registration.
“Take some time,” she says, “and don’t wait until the last minute.” ▪