Buying votes is illegal. It’s bribery. So would you be surprised to learn that experts believe President Joe Biden is bribing people for their votes by dangling Medicare changes in front of them?
No?
Then read on.
At a glance:
- Experts claim that the Biden-Harris administration’s recent Medicare premium reduction is a political move to win votes ahead of the November election.
- The reduction is part of a stabilization program that costs $5 billion and is seen as a way to shield seniors from rising premiums under the Inflation Reduction Act.
- Critics argue this policy is a temporary fix that passes costs onto taxpayers instead of addressing the root causes of rising healthcare expenses.
The Biden administration recently announced a reduction in Medicare Part D prescription drug premiums, a move that has drawn criticism from experts who claim it is a politically motivated strategy to attract senior voters before the upcoming elections. Medicare enrollees will see their premiums decrease by $7.45 next year, due to subsidies provided to insurers under a stabilization program. This program is estimated to cost taxpayers $5 billion in 2025.
Critics argue that the administration’s policy, particularly the $2,000 cap on out-of-pocket prescription drug costs, would have otherwise led to a significant increase in premiums for millions of senior citizens. Michael Cannon from the Cato Institute believes this measure was implemented to prevent backlash from seniors, who historically have the highest voter turnout, against the administration.
Joel White, a healthcare expert, echoed this sentiment, calling the policy “political” and accusing the Biden administration of “buying down premiums to buy votes.” He and others argue that while the administration presents the premium reductions as part of its efforts to combat high drug prices, the actual costs are simply being transferred to taxpayers.
This announcement comes after previous Democratic opposition to similar moves by former President Donald Trump, who proposed providing $200 discount cards to seniors before the 2020 election, an initiative that was met with skepticism and accusations of political motivation.
Ultimately, experts like Peter Earle of the American Institute for Economic Research see this move as part of a broader trend of politically motivated economic redistribution under the Biden administration, with other examples including efforts to reduce student loan debt and climate-focused spending under the Inflation Reduction Act. These actions, they argue, contribute to rising deficits and government debt, intensifying concerns about the long-term impact of such policies.
What do you make of it?
