Millions of older adults on Medicare prescription drug coverage could face steeper monthly costs in 2027, after the Trump administration concludes a temporary subsidy program that has helped offset pr

Millions of older adults on Medicare prescription drug coverage could face higher monthly costs in 2027.

WASHINGTON - The Trump administration intends to end a subsidy program that helped lower costs for Medicare drug plans, a move that could potentially raise monthly costs for older adults. The Centers for Medicare and Medicaid Services said it was ending a subsidy program introduced during the Biden administration a year ahead of schedule, according to a fact sheet on the agency's website, at the end of contract year 2026. The administration had already scaled back the subsidies last year. At issue are billions in subsidies intended to help control premiums for Medicare Part D coverage, which helps seniors pay for prescription drugs. Their elimination could leave some in the program facing higher costs next year. The base monthly payment for beneficiaries will increase from $38.99 this year to $41.33 in 2027, or a roughly 6% increase. The base premium for Medicare prescription drug coverage can't increase by more than 6% a year through 2029 under the Inflation Reduction Act policies passed during the Biden administration…