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TL/DR - The Kaiser Family Foundation (KFF) has released an issue brief on how the provisions of the Inflation Reduction Act of 2022 are expected to generate savings for millions of Medicare Part D beneficiaries from 2025. Starting January 1, 2024, Part D enrollees will not have to pay 5% coinsurance once they hit the "catastrophic coverage" limit…

TL/DR - Older Americans often postpone elective surgeries due to concerns about out-of-pocket expenditures, time away from work, and potential exposure to COVID-19, according to a study by the University of Michigan Institute for Healthcare Policy and Innovation. About half of the respondents in the study, who expressed severe concern about cost…

AM Best Affirms Financial Strength of Pennsylvania Lumbermens Global credit rating agency, AM Best, has reaffirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent) for the Pennsylvania Lumbermens Mutual Insurance Company (PLM) based in Philadelphia, PA, according to a…

TL/DR - The Inflation Reduction Act introduced by the Biden-Harris Administration aims to mitigate the increasing healthcare costs in the US by enforcing drug firms to pay rebates to the Medicare Trust Fund if their price increases exceed the inflation rate. The act also focuses on reducing home energy costs through tax credits, rebates, and…