Congress, Administration Seek Ways to Limit Increase in Medicare Premiums
Congress and the Obama administration are frantically seeking ways to hold down Medicare premiums that could rise by roughly 50 percent for some beneficiaries next year, according to lawmakers and Medicare officials. The administration has criticized commercial insurance companies for seeking rate increases much smaller than that. Aides to Representative Nancy Pelosi of California, the House Democratic leader, and Speaker John A. Boehner are quietly exploring a possible deal that would limit the expected increase in Medicare premiums. The cost of avoiding such big premium increases, $7.5 billion by some estimates, could be a problem for conservative Republicans. Aides to Mr. Boehner have told Ms. Pelosi’s staff members that the cost would have to be offset by savings elsewhere in the federal budget. White House officials have discussed the issue with congressional aides, but said they were also considering administrative action to moderate the increase in premiums, perhaps by using a Medicare contingency fund. It is unclear how much they might do on their own.
Source/more: New York Times
David Wingate is an elder law attorney at the Elder Law Office of David Wingate, LLC. The elder law office services clients with powers of attorneys, living wills, Wills, Trusts, Medicaid and asset protection. The Elder Law office has locations in Frederick and Montgomery Counties, Maryland.