Record-high Medicare premium increase unrelated to growing inflation, report says

Despite the country’s decades-high 6.2 percent inflation rate in October, a Nov. 24 report from PolitiFact and Kaiser Health News found it did not influence Medicare’s 2022 premium hikes. 

Advertisement

Claims that the record-high inflation was tied to 2022’s record-high Medicare premium increase appeared in a news release from Sen. Rick Scott, R-Fla. 

The co-authored piece pointed to a CMS report that cites growing healthcare costs, a pandemic-era premium management move from Congress and a potential surge in drug costs as rationale for the premium increase. Inflation has little-to-no impact on Medicare costs, according to Kaiser Health News. 

Paul Ginsburg, health policy professor at the Sol Price School of Public Policy at the University of Southern California, told Kaiser Health News that the claim of inflation affecting Medicare “is so false that it is annoying,” adding that the impact on premiums “is zero because Medicare controls prices.”

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.