What happenedThe Centers for Medicare and Medicaid Services said Tuesday it will end a Medicare subsidy program aimed at lowering prescription costs for some seniors at the end of 2026, one year ahead of schedule. The Medicare prescription drug benefit, which is expected to cost the government some $3.6 billion in subsidies this year, was introduced by former President Joe Biden in 2024. It shields some 25 million people with “Part D” Medicare plans from steep insurance premium hikes.
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