Medicare Cuts to Impact 1.3M N.Y. Seniors
The end of federal subsidies could raise premiums by $16 a month on average, state officials said, affecting about 1.3 million New York seniors.
- The Trump Administration announced Wednesday it will terminate the Medicare Part D Premium Stabilization Demonstration Program on December 31, 2026, ending the subsidy one year earlier than originally planned.
- Implemented by the Biden Administration in 2024 to offset Inflation Reduction Act impacts, the Centers for Medicare and Medicaid Services now argues the market has stabilized, making the subsidy unnecessary.
- New York Governor Kathy Hochul and Senator Kirsten Gillibrand warned the decision threatens 1.3 million seniors across New York with higher costs, with Hochul calling it a "new assault on seniors."
- CMS Administrator Dr. Mehmet Oz claimed premiums will rise by less than $10 for most Medicare recipients, with many potentially seeing lower costs as the market stabilizes.
- AARP executive Nancy LeaMond expressed concern about coverage affordability, though experts suggest beneficiaries could mitigate increases by comparing plans during the upcoming Open Enrollment period.
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Hochul, Gillibrand decry early end to Medicare Part D subsidies, warn of 40% price hikes
New York Governor Kathy Hochul and U.S. Senator Kirsten Gillibrand are opposing the Trump administration's plan to end Medicare Part D subsidies by the end of 2026, warning that the move will increase prescription drug costs for approximately 1.3 million seniors in the state.
Fighting back against the Trump Administration’s attacks on our seniors
Donald Trump’s Medicare cuts will raise prescription drug costs for 1.3 million New Yorkers. We won’t stop fighting to protect Medicare, lower healthcare costs, and ensure every New Yorker can get the care they need. The post Fighting back against the Trump Administration’s attacks on our seniors appeared first on WNYmedia Network - Buffalo, NY.
Governor Hochul Slams Trump’s New Medicare Cuts that Raise Prescription Drug Costs for 1.3 Million New York Seniors - News & Photo Features
Trump’s Plan to End Medicare Part D Subsidies is Expected to Take Effect in 2027 and Lead to Higher Monthly Premiums for Millions of Seniors Nationwide While Trump Continues to Raise Costs for Seniors, Governor Hochul’s Policies Deliver Savings on Healthcare For Seniors Statewide Governor’s Expansion of the Medicare Savings Program Has Helped More Seniors Save More Than $7,000 Per Year On Healthcare Costs Governor’s Ban on Insulin Co-Pays Saved …
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