Biden spent billions to delay Medicare premiums spike, protect Harris campaign before election --New average plan bid for standard Part D coverage to likely increase by a whopping 179% for 2025 | 4 Nov 2024 | Democrats were confronted earlier this year with a terrifying reality: a cap on out-of-pocket costs for patients to limit Medicare drug spending passed as part of Biden's signature Inflation Reduction [sic] Act was set to spike premiums for millions of senior citizens just weeks before the 2024 presidential election. To avoid the political catastrophe of presiding over major premium increases in the middle of an election, the Biden-Harris regime used its authority to reroute appropriated funding to subsidize the premiums for seniors until after the election. The administration's $5 billion budget gimmick kicked the proverbial can down the road, but only adds to the estimated possible $20 billion in additional spending over three years to cover up the unintended consequences... The analysis, requested by Republican critics of the administration's plans, said the changes made to Medicare by the act would likely cause the new average plan bid for standard Part D coverage to increase by a whopping 179% for 2025 without intervention.