Washington D.C. – This week the Center for Medicare & Medicaid Services’ (CMS) independent Actuary told leaders of the Senate Finance and House Energy & Commerce Committees that Trumpcare would lead to higher Medicare Part B premiums for seniors across the country in order to provide a tax break to pharmaceutical corporations. The CMS Actuary estimated that Medicare Part B premiums would increase by $8.7 billion in total over the next ten years.
Medicare Part B covers a wide array of services that Medicare beneficiaries rely on, including physician services, outpatient care, and drugs administered in a doctor’s office. In addition to increasing Part B premiums, Trumpcare will eliminate $177 billion in funding for the Medicare Part A Trust Fund in order to provide a tax break to wealthy Americans. This would shorten the lifespan of the Medicare Part A Trust fund by three years.
“The more we learn about this disaster of a bill, the more terrifying it becomes for older Americans and people with disabilities.” said Congresswoman Schakowsky. “Republicans want to jeopardize health care for seniors and people with disabilities just to provide a huge tax break to pharmaceutical corporations. Seniors in my district are already struggling to afford their health care costs as it is. This proposal would only make it harder for them to access the care they so desperately need. Trumpcare would mean a real-life nightmare for seniors.”
“This news adds to a long list of harmful consequences for older Americans under Trumpcare,” said Congresswoman Matsui. “Raising Medicare Part B premiums will increase costs for seniors who are already trying to manage their care on a limited budget. Coupled with this legislation’s age tax on those nearing retirement, destruction of long term care options, and cuts to the Medicare Trust Fund, this Republican repeal effort is an assault on seniors’ care and well-being.”
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