Medicare

The average price of 25 prescription brand name drugs with the highest Medicare D spending increased by 226%, AARP reported. But provisions in the Inflation Reduction Act aim to lower the costs of Medicare coverage for retirees.

Medicare will directly negotiate the prices of covered prescription drugs with manufacturers for the first time. Some drug makers already disclosed which drugs will be included.

Medicare and Social Security reform went from top fiscally conservative issues to political poison, and experts are blaming the people in charge for setting the narrative.

The typical 65-year-old retiree with Medicare could expect to spend $157,500 on healthcare costs in retirement.

Pharmaceutical company Merck has filed a lawsuit against the Biden administration for a new drug pricing program it says is an unconstitutional "sham."

Medicare beneficiaries in retirement would need to have saved anywhere from $96,000 to $383,000 to cover most of their healthcare needs, according to EBRI. The organization found that in general, Medicare Advantage enrollees have lower savings targets. But these private industry plans have their pros and cons.

President Biden is looking to increase taxes on those making more than $400,000 in an effort to boost funding for Medicare.

The White House is floating higher taxes on wealthy U.S. households as part of an effort to shore up funding for Medicare, which faces insolvency in 2028.

House Republicans are investigating pharmacy-benefit managers, middlemen in drug price negotiations, over whether they create unnecessary costs for prescription drugs.

Florida Sen. Rick Scott argues it's better to balance the congressional budget than "spending to oblivion" while struggling to solve a "dramatic" debt ceiling debacle.

President Biden on Wednesday said Sen. Rick Scott, R-Fla., was "confused" for suggesting cuts to prescription drug costs equated to cuts to Medicare.

Rep. James Comer accused President Biden and Senate Majority Leader Chuck Schumer of trying to "scare seniors" by saying the GOP wants to cut Medicare and Social Security.

Sen. Rick Scott, R-Fla., calls for President Biden to resign, alleging the president cheated on his taxes and is a "hypocrite" on his Social Security and Medicare accusations.

GOP senators on Wednesday said President Biden was mischaracterizing their respective positions on Social Security, Medicare, and Medicaid.

Deficit reduction options offered by the CBO and CRFB could extend the solvency of key trust funds for Social Security, Medicare and highways that are on a path to exhaustion.