President Donald Trump has announced a one-time $90 payment to assist over 20 million seniors enrolled in Medicare with their premiums. The payments are set to be distributed in October via direct deposit or check, according to the White House.
The funds will be sourced from the Medicare Improvement Fund, which was created to enhance Medicare operations and healthcare provider payments. This financial aid is directed towards Medicare Part B beneficiaries residing in the United States who do not receive premium assistance through Medicaid or pay income-adjusted premiums. Individuals enrolled in Medicare Advantage plans are also not eligible for this payment.
Medicare Part B covers services like doctor visits, ambulance services, and laboratory tests, with premiums that vary based on income. The announcement comes in the lead-up to the November 3 midterm elections, as President Trump promotes healthcare measures addressing affordability concerns.