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White House plans one-time $90 Medicare payments in early October
The payments are set to be funded by the $2.0 billion Medicare Improvement Fund and will be sent by direct deposit or check starting in early October.
HousingWire reports that President Trump announced one-time $90 payments for more than 20 million Medicare beneficiaries to help offset Medicare Part B premium costs.
The payments are expected to be distributed in early October, either via direct deposit for beneficiaries who receive payments electronically or by check to addresses on file with Medicare, according to the White House.
The White House said the money will come from the $2 billion Medicare Improvement Fund, which was established by Congress to support improvements to Medicare’s fee-for-service program.
The announcement also said most Part B enrollees would qualify, excluding people whose premiums are paid by Medicaid and those who pay IRMAA.
HousingWire reports that the administration described the move as the first time the fund has been used to make direct payments to beneficiaries.