Biden Regime Allows Big Pharma to Loot Medicare

Guest Post by Paul Craig Roberts

Earlier this month I reported that my Medicare account has been billed by three separate labs for expired Covid tests sent to me as “totally free, paid for by the Government. Please Do Not Return.”  https://www.paulcraigroberts.org/2023/07/10/the-looting-of-medicare/

“Paid for by Government” means paid for by Medicare.  I now have 24 expired Covid tests for which Medicare has paid.

Since reporting this a few days ago I have now received Medicare notices that FIVE more labs have sent me AT MEDICARE’S EXPENSE Covid test kits.  These kits have not year arrived, but the bill to Medicare has.

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The Looting of Medicare

Guest Post by Paul Craig Roberts

Eight days ago I reported mysterious billings to my Medicare account:  https://www.paulcraigroberts.org/2023/07/02/has-the-criminal-biden-regime-utterly-and-totally-corrupted-medicare/

Two were billings for expired Covid tests.  From a notice accompanying the second batch of 8 test kits, Medicare is paying for the surplus products of Covid providers to be sent at Medicare’s expense to those qualified by age for Medicare. The notice said: “Tests are totally free, paid for by the Government. Please Do Not Return.”

“Paid for by the Government” means paid for by Medicare.

Why is Medicare reimbursing Covid test providers for expired tests that Americans on Medicare did not request?

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Has the Criminal Biden Regime Utterly and Totally Corrupted Medicare?

Guest Post by Paul Craig Roberts

We are constantly told we cannot afford Social Security and Medicare.  Fighting Russia in Ukraine is more important than the survivability of the American population.

I doubt anything can wake up the ignorant insouciant American population, but perhaps the Biden regime’s rip-off of Medicare in the interest of Big Pharma profits can introduce some reality into American consciousness.

Recently I have had physical therapy for a shoulder injury hoping to avoid an operation and received two Medicare “summary notices” setting out the charges and payments.  Incidentally, Medicare cost me annually  five to ten times more in Medicare taxes than I receive in Medicare payments to providers.  This is because I am still working despite being well passed retirement age and am subject to the Medicare tax on income.  Then there is the surcharge for Medicare part B that is income based, and then there is the cost of the private supplement to Medicare as Medicare never pays the full cost of the bill.  On me, Medicare makes a large annual profit.

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Medicare Will Be Insolvent In 2026, Sooner Than Expected; Social Security To Follow In 2034

I’m sure tackling these issues is next on Trump’s agenda. Sound of crickets. Fiscal disaster is baked into the cake. Only tough unpopular actions could save the country from this inevitable crisis. Therefore, no politician from either party will propose anything that could work. So it goes. Enjoy the show. Pray. WWQD

Via Zero Hedge

Medicare’s trust fund has just eight more years of solvency until 2026, and Social Security will be exhausted in 2034, according to Thursday projections by the trustees for the government programs.

While Social Security’s expected depletion is unchanged from last year’s projection, the date for Medicare’s demise was moved up three years.

Social Security is made up of several funds; the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) are combined for the designation OASDI, while Medicare’s Hospital Insurance trust fund is designated HI.

https://www.zerohedge.com/sites/default/files/inline-images/keydates_0.JPG?itok=rcHki9P4

If allowed to expire, beneficiaries would face an immediate reduction of around 20% in benefits.

https://www.zerohedge.com/sites/default/files/inline-images/chartE_0_0.jpg?itok=uGUehfNq

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