The Biden administration said on Wednesday that Medicare enrollees will pay less for 64 prescription drugs available through Medicare Part B. The savings are part of a program established with the Inflation Reduction Act in 2022 and is meant to rein in drug price hikes — a key goal of the Biden Administration.

The Biden administration is lowering the price of 64 prescription drugs with inflation rebates

Franklin County Free Press

The Centers for Medicare & Medicaid Services (CMS) under the U.S. Department of Health and Human Services (HHS) has announced a temporary reduction in coinsurance rates for 64 drugs available through Medicare Part B from July 1, 2024, to September 30, 2024. This reduction is part of the Medicare Prescription Drug Inflation Rebate Program initiated by the Inflation Reduction Act. The program aims to curtail rapid price hikes by pharmaceutical companies that exceed the inflation rate.

Medicare Part B Coinsurance Reductions for Select Drugs

The Biden administration said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare. President Joe Biden has made lowering U.S. drug prices a key pillar of his health-care agenda and reelection platform for 2024.

Biden administration to lower costs for 64 drugs through inflation penalties on drugmakers

Sacramento, CA

Daily Montanan

Months into a new Biden administration policy intended to lower drug costs for Medicare patients, independent pharmacists say they’re struggling to afford to keep some prescription drugs in stock. “It would not matter if the governor himself walked in and said, ‘I need to get this prescription filled,’” said Clint Hopkins, a pharmacist and co-owner […]
The post Biden plan to save Medicare patients money on drugs risks empty shelves, pharmacists say appeared first on Daily Montanan.

Biden plan to save Medicare patients money on drugs risks empty shelves, pharmacists say

The cost of prescription medications in the U.S. has increased 37% since 2014, far surpassing the rate of inflation, according to data from drug savings company GoodRx. Though the price increases have slowed this year in comparison to the past decade, the average American spends $16.26 out of pocket per prescription, according to the data.

Drug prices have risen almost 40% over the past decade, according to a new tracker

Fox Business

The chief actuaries for Social Security and Medicare testified before the House Budget Committee about the two programs' looming insolvency roughly a decade from now.

Social Security payments will get cut $325 a month starting in 2033 without changes: actuaries

Cost of Living Adjustment (COLA) is a crucial mechanism that helps maintain the value of specific payments, such as Social Security benefits or military pensions, by keeping them in line with inflation and shifts in the cost of living. Social Security's COLA 2025. According to MARCA, this adjustment benefits individuals...

2025 Social Security COLA: Potentially the Largest Increase in Years

The Guardian

With Biden not yet officially endorsed as Democratic presidential candidate, it is in theory open to the party to choose another candidate

Who could replace Joe Biden? Here are six possibilities

New Jersey State

Upworthy

Public discourse about minimum wage and living wages has been ongoing for years, with people debating whether the government should mandate a minimum hourly pay for workers.  President Franklin D. Roosevelt signed the first federal minimum wage law in 1938, setting the lowest wage a worker could be paid at 25 cents per hour. Nearly a century later, the federal minimum wage is $7.25/hr, holding steady since 2009, with people lobbying to raise it to at least $15/hr for over a decade. However, in addition to federal law, each state has its own laws, a handful of which establish a state minimum wage higher than $15, a handful of which don't have a set minimum wage at all and everything in between.Cost of living has also been a hot topic as inflation has squeezed everyone's wallets and certain cities and states have become utterly unaffordable, especially for people in low-wage jobs or who who are just starting out in their careers. So how do minimum wage and cost of living correlate state-by-state? Are there any sweet spots with a high(er) minimum wage and low(er) cost of living? 

6 states where the minimum wage and cost of living offer the best bang for your buck

Mediaite

President Joe Biden took a swing at Donald Trump during Thursday's debate over the former president's criminal convictions on 34 counts of falsifying business records.
The post Trump Sheepishly Bows Head When Biden Says ‘The Only Person on This Stage Who’s a Convicted Felon Is the Man I’m Looking At’ first appeared on Mediaite.

Trump Sheepishly Bows Head When Biden Says ‘The Only Person on This Stage Who’s a Convicted Felon Is the Man I’m Looking At’

The Motley Fool

Social Security will undergo several changes next year, and a recent survey suggests many Americans will be surprised by those changes.

3 Big Social Security Changes Coming in 2025 May Surprise Many Americans

North Carolina State

TheDailyBeast

Jill Biden revealed to The New York Times reporter Katie Rogers what Joe told her following the debate. Rogers queried Jill at a Biden campaign fundraising event in the Hamptons on Friday. “You know, Jill, I don’t know what happened. I didn’t feel that great.” Biden reportedly told the first lady, according to an X post by Rogers. Jill responded, “Look, Joe, we are not going to let 90 minutes define the four years that you’ve been President.” Biden has not been cagey around acknowledging his poor performance on Thursday night. Biden told a crowd in North Carolina on Friday that he knows he’s “not a young man,” and went on to acknowledge other signs of his age, “I don’t walk as easy as I used to. I don’t walk as smoothly as I used to. I don’t debate as well as I used to.” Biden added, “But I know what I do know—I know how to tell the truth, I know right from wrong, and I know how to do this job.”Read it at Daily MailRead more at The Daily Beast.

Jill Biden Discloses What Joe Told Her After His Debate Performance

TheStreet

The Centers for Medicare and Medicaid Services is making important changes next year.

Medicare changes will impact your wallet in 2025

New reporting from Axios suggests that Former First Lady Michelle Obama is declining to campaign for President Joe Biden over his family’s mistreatment of Hunter Biden’s ex-wife Kathleen Buhle. According to the story, Obama and Buhle developed a friendship during Barack Obama’s presidency that persists to this day....

Michelle Obama Reportedly Refusing to Campaign for Biden Over Mistreatment of Hunter’s Ex-Wife

Inflation has been persistent for the past several years. The 2024 cost of living adjustment (COLA) for federal retirees was 3.2%. Some retirees were probably disappointed with the 2024 increase because of the larger increases in the two previous years. In 2023, the COLA was 8.7%, the highest in more...

Because of Inflation, 2025 COLA Estimates Going Up Every Month

The Hill

Former President Trump told reporters Saturday he’s made up his mind about who will be his running mate in November, but he has yet to tell anyone who it is. Trump told NBC News ahead of a rally in Philadelphia that he’s settled on a vice presidential choice. “In my mind, yeah,” Trump said when…

Trump says he’s decided on his running mate

NBC News

For more than two decades, a law has prohibited Medicare from paying for weight loss drugs, cutting off access to millions of potential patients who could stand to benefit. The ban has come into even sharper relief in recent years, with the Food and Drug Administration's approval of powerful but pricey drugs including Wegovy and Zepbound, which, without insurance coverage, are unaffordable to all but the wealthiest members of society.

House committee passes bill that would allow Medicare to cover weight loss drugs

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Emily Standley Allard

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5 Expenses Parents Should Stop Covering for Their Adult Kids

Groton, CT

The US Sun

A MAJOR housing complex is paying its residents to settle claims it failed to maintain properties. Branford Manor Apartments in Connecticut set aside $12.25 million for current and former residents. The apartment complex has dozens of units in Groton, near the coastal city of New London. Tenants sued the landlord...

Americans can claim up to $6,000 from $12.25m housing settlement – and the amount you get is based on your age

Kiplinger

Will your monthly Medicare premiums increase next year? It depends.

Medicare Premiums 2025: Projected IRMAA for Parts B and D

NewsBreak

Medicare to Cut Costs on 64 Drugs, May Influence Private Insurance Prices

The Department of Health announced this week that Medicare is cutting prices for dozens of prescription drugs that have outpaced inflation. To which we say, what...

Medicare to Cut Costs on 64 Drugs, May Influence Private Insurance Prices

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