27 November 2023
The “Inflation Reduction Act,” focused on green energy, is expected to cause Medicare insurance premiums to surge by 42-57% in 2024. Despite aiming to lower healthcare costs, the Act may significantly increase Part D premiums for most enrollees. Reports predict steep hikes in states with large senior populations, contrary to earlier projections of premium declines. This could impose a considerable financial strain on retirees dependent on Medicare’s Part D coverage.