Each month, Medicare World takes a look back on the latest news and trends that are important to Medicare beneficiaries. Here’s our report for the month of June.
Since the start of his campaign, Trump has been promising to allow Medicare to negotiate drug prices. However, his administration released a 44-page paper titled “American Patients First” detailing ways to work around the system instead of fixing it. The blueprint includes shifting some medications from Part D coverage to Part B coverage as well as increasing premiums.
News outlets all around the country have been reporting that Medicare will become insolvent, or run out of money, by 2026, three years earlier than anticipated. However, this isn’t necessarily something to panic about. Medicare becoming insolvent just means that Medicare will need to increase payroll taxes or use general revenue to support Medicare Part A. The important take-away is that Medicare will not stop paying your benefits.