Trump Announces One-Time $90 Medicare Payments For Millions of Seniors
More than 20 million Americans are set to receive a one-time $90 payment to help cover Medicare Part B premiums. The payments are being issued this month from the Medicare Improvement Fund, an existing federal fund established by Congress in 2008.
President Donald Trump announced the initiative Friday. He initially described payments worth nearly $100 before the White House clarified that eligible beneficiaries will receive $90.
“We are finally using this Fund,” Trump wrote. He also called the account a “Slush Fund,” criticizing how previous administrations had handled it.
The White House says the fund has $2 billion available and that this is the first time it has been used to make direct payments to Medicare beneficiaries. The fund has been used before, however: Congress and the Obama administration redirected about $20.7 billion from it to help finance the Affordable Care Act.
The payment is a rebate for Part B premiums, which cover outpatient care such as doctor visits, preventive services and certain medical equipment. It is a one-time payment, not a permanent premium reduction or an increase in monthly Social Security benefits.
Payments are already rolling out. The Centers for Medicare & Medicaid Services says most eligible beneficiaries should receive a $90 direct deposit on or around October 8. Paper checks are expected later in October. Eligible recipients do not need to sign up or take additional action.
The payment is not available to everyone enrolled in Medicare. CMS says eligibility is limited to people living in the United States who have Original Medicare Part B and do not receive Medicaid assistance with their premiums or pay an Income-Related Monthly Adjustment Amount, known as IRMAA. Medicare Advantage enrollees are also excluded.
At $90 for 20.8 million people, the total would approach $1.9 billion, depending on the final number of eligible beneficiaries. The administration says the payments will come from the Medicare Improvement Fund, which Congress established to support improvements to the fee-for-service Medicare program.
Seniors can call 1-800-MEDICARE to check eligibility. The Social Security Administration can provide payment-status information beginning October 15 at 1-800-772-1213. Be cautious of unsolicited calls, texts or emails asking for personal or banking information to release a payment.
The Medicare rebate is separate from the administration’s Working Families Obamacare Refund, which is sending checks of $500 to nearly one million eligible Americans. The two initiatives serve different recipients and use separate eligibility rules and funding sources.