July 30, 2026
Alliance for Retired Americans Condemns Trump Administration Decision to Raise Medicare Plan Drug Costs
The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding the Trump Administration’s decision to end the Medicare Part D Premium Stabilization Demonstration after 2026:
“As older Americans struggle to keep up with the rising cost of food, housing, and health care, the Trump Administration has made the reckless decision to raise Medicare Part D prescription drug plan premiums for as many as 25 million Americans.
President Trump recently dismissed affordability as ‘a fake word.’ Tell that to the millions of seniors who will soon be paying more each month just to keep the prescription drug coverage they depend on.
These higher premiums will come on top of the $300 jump in the out-of-pocket Medicare drug price cap for 2027 (from $2,100 to $2,400) and an expected increase in Medicare Part B premiums.
There is no doubt that more seniors will have to make harder choices between paying for prescriptions and paying for groceries, utilities, gas, or other basic necessities.
Medicare is marking its 61st anniversary this week, and generations of older Americans earned their Medicare benefits through a lifetime of hard work. Congress must reject this reckless cost shift, force the Administration to reverse course, and strengthen Medicare by negotiating lower prices for more prescription drugs—not demanding more of cash-strapped seniors.”
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Contact: Lisa Cutler, [email protected]
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