When Democrats rammed through the Inflation Reduction Act during the days they controlled all of Washington, D.C., it ignited a chain reaction that led to higher Medicare costs for America’s senior citizens.
“Nearly two years after its passage, the IRA has diverted nearly $260 billion from the projected Medicare ‘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,” Ron Fitzwater, Chief Executive Officer of the Missouri Pharmacy Association, wrote in an Op-Ed in the Missouri Times.
“The Biden-Harris administration is not protecting Medicare; they’re stealing from it,” he wrote.
Biden and Harris took money out of Medicare and used it on green energy. Now premiums will skyrocket. And they purposely tried to hide it until after the election. pic.twitter.com/AUnb4pV0l3
— Insurrection Barbie (@DefiyantlyFree) November 15, 2024
According to Politico, the chain reaction began when the act shifted the burden of paying for prescription medicine from seniors to insurance companies.
Then came what could have been predicted: Insurance companies hiked their premiums for 2025.
Fitwater, in his Op-Ed, said increases were coming in at 179 percent.