In an election-year stunner, the Congressional Budget Office is warning the Biden-Harris administration’s new Medicare prescription drug plan could cost taxpayers more than $20 billion over three years.
The budget analysis arm of Congress said the increased costs are due to the government subsidizing many seniors’ premiums by sending money to insurance firms, and it would cost at least $5 billion extra in 2025 alone and add to the deficit.
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Anew law going into effect on Saturday forbids medical providers from issuing “surprise” charges to patients using out-of-network services.
The “No Surprises Act,” passed in late 2020, offers consumers “new billing protections when getting emergency care, non-emergency care from out-of-network providers at in-network facilities, and air ambulance services from out-of-network providers,” according to the Centers for Medicare & Medicaid Services.
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