Joe Biden’s Inflation Reduction Act (IRA) has led to higher insurance premiums, increased out-of-pocket costs, and reduced healthcare coverage for seniors. If President Donald Trump does not intervene by February 1, a midnight Medicare rule implemented under Biden’s administration will trigger mandates that could devastate Medicare Part D.
In a last-minute move before leaving office, Biden’s administration imposed price controls on 15 prescription drugs. These changes were rushed through bureaucratic channels without proper oversight, saddling the incoming Trump administration with costly regulations. If left in place, these mandates will make it nearly impossible to reverse the damage, further straining Medicare and limiting options for seniors.
Biden’s price control scheme mirrors failed socialist policies, imposing a 95% tax on any company that does not comply. Even mainstream media outlets like The Washington Post have acknowledged the disastrous consequences of these regulations, warning of supply shortages, black markets, and economic distortions.
Additionally, the government has failed to establish an effective system to manage drug pricing or reimburse pharmacies properly. Independent pharmacies are already reporting they will not be able to provide medications once the program takes full effect in 2026. A survey found that over 90% of independent pharmacists lack the resources to handle these regulatory changes, further limiting seniors’ access to vital medications.
Medicare Part D premiums have already surged due to the IRA. While the law lowered the maximum out-of-pocket costs for seniors from $3,300 to $2,000, the difference is being absorbed by insurance companies, which are passing the cost onto consumers through higher premiums and restricted drug access. Medicare Part D premiums have increased by more than 20% this year, affecting over 50 million Americans. The Congressional Budget Office estimates that the IRA’s drug rules alone will increase Medicare costs by up to $20 billion in 2025, burdening taxpayers even further.
Fortunately, Trump has already begun reversing Biden’s disastrous policies. Within his first days back in office, he repealed 78 of Biden’s executive orders and froze spending on IRA programs to protect Americans from bureaucratic overreach. Now, he must take the next step and halt Biden’s IRA drug rule before February 1.
Trump has a proven record of lowering healthcare costs, expanding choices, and improving Medicare’s efficiency. By freezing Biden’s drug rule, he can prevent further harm and ensure that seniors have access to affordable, high-quality healthcare. Time is running out, and immediate action is necessary to stop Biden’s destructive Medicare policies from taking full effect.
