Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

For Immediate Release

Contact

Press Release

Decrease in Medicare Part B Premiums is Excellent News for Social Security Beneficiaries

WASHINGTON -

The following is a statement from Nancy Altman, President of Social Security Works, in response to President Biden’s speech today, which focused on protecting and expanding Social Security and lowering prescription drug prices:

“Today, the Biden Administration announced that Medicare Part B premiums will decrease next year. That is excellent news for seniors and people with disabilities who receive Medicare, most of whom have these premiums deducted directly from their Social Security payments.

Importantly, Medicare beneficiaries will now get to keep all of next year’s Social Security cost-of-living adjustment (COLA). In past years, rising Medicare premiums have often consumed most or even all of the COLA increase for many beneficiaries. But next year, thanks to Medicare’s wise decision to limit coverage of the ineffective and wildly overpriced drug Aduhelm, that will not happen.

Additionally, during today’s speech, Biden celebrated the passage of the Inflation Reduction Act (IRA), which will finally give Medicare the power to negotiate lower prices on key prescription drugs. Unfortunately, every single Republican in Congress voted against the IRA. Indeed, they are promising to overturn it at the behest of their Big Pharma donors if they take control of Congress.

Biden also spoke about Social Security, contrasting Republican plans to cut benefits with Democratic plans to protect and expand them. From Rick Scott to Ron Johnson to the Republican Study Committee, Republicans are clear about their intentions to cut our earned benefits. The difference between the two Parties couldn’t be starker: Democrats want to expand Social Security and Medicare; Republicans want to cut, privatize, and ultimately end both programs.

President Dwight Eisenhower, who once wrote that “should any political party attempt to abolish social security…you would not hear of that party again in our political history,” would be ashamed to see what his party has become.”

###

Social Security Works' mission is to: Protect and improve the economic security of disadvantaged and at-risk populations; Safeguard the economic security of those dependent, now or in the future, on Social Security; and Maintain Social Security as a vehicle of social justice.

Fears of Escalation as Ukraine Answers Russian Missile Onslaught With Strike Deep Inside Invader's Territory

Ukrainian drones bombed two air bases more than 300 miles inside Russia, reportedly killing three soldiers, wounding four others, and damaging multiple warplanes.

Brett Wilkins ·


Patient Groups Push Congress to Combat Big Pharma Greed in Spending Bill

"As Congress works toward finalizing an end-of-year budget package, we urge the chambers to include bipartisan legislation to address abuse of the Food and Drug Administration's citizen petition process in order to reduce drug prices and save the government hundreds of millions of dollars."

Brett Wilkins ·


10,000+ Sign Open Letter Demanding Biden Order Paid Sick Leave for Railway Workers

"No one, especially in the world's richest nation, should have to choose between forgoing pay or working through severe illness and family emergencies," says The Lever's letter.

Jessica Corbett ·


Right-Wing SCOTUS Majority Signals Support for Anti-LGBTQ+ Reactionaries

"It does not bode well for the future of civil rights law that Gorsuch believes a state imposes 'reeducation training' on employers when it reminds them how to comply with nondiscrimination rules," said one court observer.

Julia Conley ·


Report Reveals Corporate Capture of Global Biodiversity Efforts Ahead of Summit

"Their 'solutions' are carefully crafted in order to not undermine their business models; ultimately they do nothing for the environment," said one Friends of the Earth campaigner.

Jessica Corbett ·

Common Dreams Logo