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Cut to Medicare Drug Plan Subsidy Could Hit Retirees' Wallets
By
Allison Bell
News July 31, 2026 at 12:38 PM
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What You Need To Know
- The original Medicare program was created in 1965 and did not provide drug coverage.
- It now covers 57 million of the 70 million Medicare enrollees.
- Enrollees spent $15 billion on Medicare drug plan premiums in 2025, and the federal government paid $143 billion in subsidies.
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