After 2026, the government will stop providing billions in subsidies to insurance companies that keep premiums low for Medicare prescription plans, known as Part D, Trump administration officials told The Wall Street Journal Tuesday.
A Trump administration official told the Journal that 25 percent of Medicare enrollees would see their premiums stay the same, 30 percent would see an increase of less than $10 to their monthly bill, and 45 percent would see a monthly increase of between $11 and $20.
The administration official claimed that the subsidies had encouraged insurers to raise rates, and that there would be other means of keeping premiums low. If not, there were other affordable options, the official said.
Donald Trump has repeatedly claimed he would not cut Medicare funding, though his One Big Beautiful Bill is set to reduce the program’s funding by an estimated $500 billion over the next eight years. Earlier this year, the president admitted he believed it was “not possible” to keep paying for Medicare, although the White House removed a recording of those remarks after posting them.
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