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Another Biden Budget Blunder: Higher Health Care Costs, Handouts to Wealthy

April 01, 2022

Key Points:

  • Ignores Medicare’s Insolvency: Without changes, working Americans could face a hike in Medicare payroll taxes by 26 percent or seniors could see their benefits cut by 16 percent to make the program solvent.
  • Kills Future Cures: President Biden’s plan for government price controls on drugs will lead to fewer cures, with as many as 342 fewer drugs entering the U.S. market over the next decade.
  • Slow-Walks Permanent Telehealth Reforms: Though 1.7 million Americans used telehealth per week on average during the pandemic, the White House will not guarantee the continuation of these critical benefits for Medicare patients in the future.
  • Fails on Fentanyl: Despite fentanyl overdoses becoming the leading cause of death for Americans aged 18-45, the White House has failed to outline a comprehensive plan to stop fentanyl, including at our southern border.

Summarized below are additional proposals beyond the budget Democrats want to enact.

Recklessly Expand Medicare: Push Medicare towards insolvency, including new behavioral health and community health services with no reforms to save this important program from going broke and failing 62 million beneficiaries as well as those near retirement.

  • REMINDER: As part of their $5 trillion tax-and-spend bill, Democrats want to expand Medicare coverage to include junk dental, vision, and hearing plans at the expense of future cures.

Chill Future Cures: Establish a dangerous precedent that empowers partisan executive branch officials to discourage investment in FDA-approved drugs and devices by limiting Medicare coverage.

  • REMINDER: The Biden Administration has already limited coverage for a new Alzheimer’s treatment, which is already having a chilling effect on innovative breakthroughs.

Target Popular Medicare Advantage Program: Despite Medicare Advantage’s (MA) growing popularity, the Biden Administration targets this program in an effort to move us backwards towards a socialist single-payer model that will limit patient choice and increase costs.

  • REMINDER: A new report from the Centers for Medicare and Medicaid Services (CMS) shows that enrollment in the MA program has grown across the board, with more seniors choosing privately-run, innovative options every year.