The Inflation Reduction Act of 2022

[kgmom219]

First, the name is a load of crap, but whatever. If this goes political, I am deleting the thread.

I read the sections I care about, with regards to Individual Coverage and Medicare and here are my cliff notes.

1. The ARPA subsides will continue for another 3 years. So more money for everyone and the subsidy cliff is still dead.
2. Part D OOP of $2K (way too low, IMO) begins in 2025
3. Part D Extra Help Low Income limits will increase in 2024 from 135% of FPL to 150% of FPL
4. Part D Price Negotiation will begin. This goes way into the weeds, but nothing will happen that we deal with until 2026.
5. There's something in there on extended patent drug costs, but again, its a 2024 issue

For 2023, its rinse and repeat.

Things to remember: Part D rules apply to MAPD, too. And 2025 is going to be s**tshow for premiums on both sides.

https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_of_2022.pdf

(And yes, I am still on Catalina and a little pissy this happened while I am out here. Couldn't they have waited til next week???)

 

[Truce]

Since there is no more 5% cost sharing after the catastrophic cap in 2024, there is effectively an out of pocket cap of of about $3000-$3500 for that year.

So any effect on premiums is going to come sooner that 2025.

 

[somarco]

It's not a done deal . . . yet.

This is not a political comment, merely an observation about what is still speculative legislation.

 

[kgmom219]

It's not a done deal . . . yet.

This is not a political comment, merely an observation about what is still speculative legislation.

Bob is my favorite

 

[DonP]

Obamacare is here to stay no matter who’s in office . Almost 15 million people on it with many more coming . The biggest mistake Obamacare made is not taking peoples assets into account . I know people with c corps and partnerships that pull little income out and get up to $3 k a month of family subsidies. Few will ever pay full $ amount for their health ins again . If people got bill increases from $150 to $580 a month they’d drop it even though $580 a month not really exp .

 

[vic120]

Obamacare is here to stay no matter who’s in office . Almost 15 million people on it with many more coming . The biggest mistake Obamacare made is not taking peoples assets into account . I know people with c corps and partnerships that pull little income out and get up to $3 k a month of family subsidies. Few will ever pay full $ amount for their health ins again . If people got bill increases from $150 to $580 a month they’d drop it even though $580 a month not really exp .

Obamacare is yes here to stay

However, the subsidies will constantly change, Right now its over and beyond where it started but its a sugar high, It wont stay that way forever

They are trying to keep it up as much as they can to get through the midterms and possibly the next election But they cant keep it up forever

There will be a day of reckoning, Its coming, Subsites wont go away but will be greatly reduced for those of not the lowest income levels

 

[Bob L]

Bob is my favorite

Why thank you. I love you too!

 

[kstein]

So why aren't you selling the blow pops to the sugar junkies?

Go figure out ACA.... Your Medicare biz will 3x because of it.

 

[vic120]

 

[somarco]

Didn't watch all of @vic120 video . . . but . . . Sinema is not on board yet, as of 6 hours ago.

The "inflation reduction" is BS