Medicare

Trump Promises $200 Prescription Drug Card for Seniors

Medicare beneficiaries will soon receive a debit card in the mail that they can use to pay for prescription drugs.

As part of his America First Healthcare Plan, President Trump announced that "33 million Medicare beneficiaries will soon receive a card in the mail containing $200 that they can use to help pay for prescription drugs." The cards are expected to be mailed in the "coming weeks."

The cards will be partially paid for with savings from the Trump administration's policy that Medicare shouldn't pay more for prescription drugs than the "most-favored-nation price," which is generally the lowest price that a pharmaceutical company charges for drugs sold in other developed countries.

The administration has not released additional information about the prescription drug cards at this point. However, we will provide additional details when they become available.

America First Health Care Plan

The prescription drug card was reportedly a last-minute addition to the president's overall America First Health Care Plan. Among other things, the plan lays out the Trump administration's desire to:

  • Continue health insurance coverage for pre-existing conditions;
  • End "surprise billing" for medical costs that patients had no meaningful ability to plan for in advance;
  • Dedicate significant resources for COVID-19 therapeutics and vaccines, as well as for treatments for other serious illnesses and conditions;
  • Provide access to health coverage tailored to individual needs;
  • Establish transparent pricing for medical procedures and drug prices;
  • Lower prescription drug costs;
  • Improve access to innovative arrangements like direct primary care;
  • Enhance patient control over medical records;
  • Expand telehealth options; and
  • Cut Medicare waste, fraud and abuse.

Most Popular

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer
Coronavirus and Your Money

Where's My Stimulus Check? Use the IRS's "Get My Payment" Portal to Get an Answer

The IRS has an online tool that lets you track the status of your second stimulus check.
January 18, 2021
When Could We Get a Third Stimulus Check?
Coronavirus and Your Money

When Could We Get a Third Stimulus Check?

President Biden and others in Congress are pushing for a third-round of stimulus checks, but it might be a while before we get them.
January 20, 2021
Don’t Have a Pension? The SECURE Act Could Help
retirement planning

Don’t Have a Pension? The SECURE Act Could Help

If you’re worried about retirement, the SECURE Act has a lot to offer. It has several provisions to allow people to save more, for more years — and it…
January 22, 2021

Recommended

12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket
Coronavirus and Your Money

12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket

President Biden's "American Rescue Plan" includes several proposals to assist people financially harmed by the pandemic.
January 20, 2021
A Retiree’s Guide to Key Dates in 2021
Basics

A Retiree’s Guide to Key Dates in 2021

It's critical -- and financially sound -- to hit these important financial deadlines spaced throughout the year.
January 8, 2021
What You'll Pay for Medicare in 2021
Healthy Living on a Budget

What You'll Pay for Medicare in 2021

For Medicare premiums 2021, look for modest increases in premiums and out-of-pocket costs.
December 16, 2020
Medicare Mania: Some Basics to Know During Open Enrollment
Medicare

Medicare Mania: Some Basics to Know During Open Enrollment

What’s Part A, Part B, Part C and Part D and what do they cover? What are Medicare Advantage plans? And how about the deadlines involved? There’s a lo…
November 21, 2020