Inflation Reduction Act

[ClydeR]

Trump capped insulin copayments at $35.

Biden removed the cap when he took office.

Biden places new cap that mimics what Trump had already put in place.

That's not at all true. It's not even a half truth. You should stop relying on the new source from which you got that misinformation. They are intentionally misleading you.

There were two different relevant executive orders.

First, Trump signed an executive order that would have begun after he left office and would have applied to 1,400 clinics. There was nothing in that order about a $35 price cap. That is the rule that Biden stopped from going into effect.

That rule pertained specifically to federally funded health centers, which provide services to underserved communities. Finalized in late 2020, the rule aimed to ensure that such health centers were passing along discounted rates of insulin and injectable epinephrine, used for allergic reactions. It was not fully implemented before it was rescinded and experts said any impact was expected to be minimal.

The Biden administration argued that the rule would have created additional administrative work and resulted in reduced resources at such centers.

“The rule was not likely to have had a substantial impact on very many patients and it was expected to impose substantial administrative burden on these federal health centers,” said Juliette Cubanski, deputy director for the Program on Medicare Policy at Kaiser Family Foundation.

Cubanski said it “wouldn’t have done anything to lower insulin prices across the board for the vast majority of insulin users.”

More...

Second, Trump signed an executive order imposing a $35 insulin cap for some insulin products for some Medicare beneficiaries. Biden left that order in effect until it was superseded by the comprehensive provisions of the Inflation Reduction Act.

Separately, the Trump administration implemented a program in which some Medicare Part D and Medicare Advantage plans voluntarily set the maximum copay for insulin at $35 per month. However, not all insulin products are necessarily covered by the plans that participate. It also does not affect costs for people who are uninsured or have other coverage.

That program remains in place, and Cubanski pointed out that the Biden administration supported expanding that initiative. A provision under the idling Build Back Better Act would have applied it to private insurers, for example.

[Seran]

That's not at all true. It's not even a half truth. You should stop relying on the new source from which you got that misinformation. They are intentionally misleading you.

There were two different relevant executive orders.

First, Trump signed an executive order that would have begun after he left office and would have applied to 1,400 clinics. There was nothing in that order about a $35 price cap. That is the rule that Biden stopped from going into effect.

Second, Trump signed an executive order imposing a $35 insulin cap for some insulin products for some Medicare beneficiaries. Biden left that order in effect until it was superseded by the comprehensive provisions of the Inflation Reduction Act.

Correct, Biden gave the middle finger to big pharma in setting a cap on a handful of medications under the Inflation Reduction Act, which is why Senator Sinema and her big donors were enacting legislative revenge.

[~Rocktar~]

Too bad you idiots claiming a win about insulin don't understand it's just a big subsidy. Who do you think covers the cost between the copay and the actual cost of the medication? For Medicare part D, it's the government you morons.

[Seran]

Too bad you idiots claiming a win about insulin don't understand it's just a big subsidy. Who do you think covers the cost between the copay and the actual cost of the medication? For Medicare part D, it's the government you morons.

That's a bold face lie, not sure how even a dumb fuck like you could look at the Inflation Reduction Act provisions or the resulting CBO and Joint Tax Committee figures showing billions and savings, but still lie about it.

Budgetary Implications of the IRA


This study begins by documenting the budgetary implications of the IRA from 2023–2031. These are summarized in the table below. It is important to note that the budgetary estimates are based on the original Congressional Budget Office (CBO) cost estimate of the IRA as enacted, and more recent estimates from CBO and the Joint Committee on Taxation that reflect policy developments after enactment.[1] Most significant, the estimates presented here reflect more recent estimates of the energy and environmental tax credits, as well as minor changes to the Internal Revenue Service funding-related revenue collection.


From the perspective of Medicare, the IRA contains two key provisions. First is the Medicare Inflation Rebate – that is, the provision holding that 100 percent of any increase in the price of a drug above the general rate of inflation must be returned to the federal government as a rebate on that drug. This “inflation tax” in isolation is anticipated to generate $6.9 billion in revenue over the budget window (along with $56 billion in direct budget savings included in the $260 billion figure below).


The second and larger provision is from the drug price “negotiation” in which the Health and Human Services (HHS) secretary sets the maximum fair price (MFP) on selected drugs each year. The statute dictates that the MFP must be a maximum of between 40 and 70 percent of the average manufacturer’s price (depending on how long the drug has been on the market), but that the secretary can negotiate the price lower. If the secretary concludes that the firm did not negotiate in good faith, she can levy a tax of 95 percent on the domestic sales (including non-federal sales) of the drug. (Notice that the 95 percent rate on the tax-inclusive price translates to a 1900 percent rate on the price received by the firm.) The negotiation regime takes effect in 2025 and this, along with savings attributed to other Medicare changes like the inflation rebate, amounts to the $260 billion in savings. (The minor bump in 2024 spending stems from capping the out-of-pocket costs of seniors at $2,000.)

The Inflation Reduction Act implementation and Medicare cost and negotiation determined to result in $260 billion in savings to the federal government according to CBO analysis.

[Neveragain]

That's a bold face lie, not sure how even a dumb fuck like you could look at the Inflation Reduction Act provisions or the resulting CBO and Joint Tax Committee figures showing billions and savings, but still lie about it.



The Inflation Reduction Act implementation and Medicare cost and negotiation determined to result in $260 billion in savings to the federal government according to CBO analysis.

The "Bold faced lie" is that Biden reduced insulin costs. The fact is, the Trump admin already did this and then Biden axed it.

How do I know this? Because a family member was already taking advantage of it when Trump was president.

But, you're a faggot the has Biden's cock in your mouth 24/7.

[~Rocktar~]

That's a bold face lie, not sure how even a dumb fuck like you could look at the Inflation Reduction Act provisions or the resulting CBO and Joint Tax Committee figures showing billions and savings, but still lie about it.


The Inflation Reduction Act implementation and Medicare cost and negotiation determined to result in $260 billion in savings to the federal government according to CBO analysis.

Is that the CBO that said the Green New deal would be revenue neutral? Or the one that said Obamacare was funds neutral? Hummmm?

Yeah, they are about as trustworthy as the monkeys flying our of your ass.

[Seran]

Thank goodness for Democrats running the country.

Wholesale inflation measure rose 0.1% in July, less than expected

The producer price index, a measure of wholesale inflation, increased 0.1% on the month, less than 0.2% forecast. PPI excluding food and energy was flat.
On a year-over-year basis, headline PPI rose 2.2%, a sharp drop from the 2.7% reading in June.

Annual inflation rate slows to 2.9% in July, lowest since 2021

The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting the 12-month inflation rate at 2.9%. Economists surveyed by Dow Jones had been looking for respective readings of 0.2% and 3%.

[~Rocktar~]

Thank goodness for Democrats running the country.

Leave it to a anti-Semitic bigot to claim that inflation being nearly 50% more than the beginning of the term is somehow a win.

[Parkbandit]

Thank goodness for Democrats running the country.

Sorry cLyDeR, you just don't have what it takes to step into the ring with this champion.

[Suppa Hobbit Mage]

Thank goodness for Democrats running the country.

There is a reason you didn't link the article.