Reed Celebrates Medicare Turning 61 & Seeks to Strengthen It for Older Americans & Future Generations

WASHINGTON, DC -- As America approaches the 61^st anniversary of Medicare being signed into law on July 30, 1965, U.S. Senator Jack Reed, who championed policies to finally give Medicare the authority to negotiate drug prices as part of the Inflation Reduction Act law, says there are reasons to celebrate, but also cause for concern due to the Trump Administration's attacks on the U.S. health care system. Reed pointed to a new Wall Street Journal report that the Trump Administration plans to end a program that helped hold down premiums for Medicare drug plans, a move that is likely to leave millions of older Americans facing higher rates for their prescription coverage next year.

Ahead of Medicare's birthday, Reed, who continues working to lowering seniors' out-of-pocket costs and improve health care quality for all, issued the following statement today in recognition of Medicare's positive impact for Rhode Islanders and vowed to defend the program from being further undermined by Congressional Republicans and the Trump Administration:

"Medicare is a cost-effective, proven success story that is critical to the health and well-being of thousands of Rhode Islanders and millions of Americans.

"Medicare has helped lift millions of Americans out of poverty, improved their health, and advanced health care innovations that benefit everyone.

"The historic success of Medicare is self-evident: Before Medicare was enacted, roughly half of all seniors had health insurance. Today, 99 percent of American seniors -- adults aged 65 and older -- have health insurance.

"Medicare is a promise to America's seniors that the cost of health care will not bankrupt them and their families if they should fall seriously ill.

"But now, President Trump is eroding that promise and ending Medicare Part D subsidies in a way that will increase prescription drug costs on seniors next year. President Trump is always able to find money for a ballroom or a billionaire tax cut. But when it comes to funding Medicare, he claims America can't afford it. We should be prioritizing people first, especially vulnerable older Americans who deserve a secure and dignified retirement.

"We must recommit to saving, strengthening, and protecting Medicare for future generations. Congress should work to make health care more affordable. President Trump should use the power granted to the Centers for Medicare and Medicaid Services (CMS) to negotiate with pharmaceutical companies through part D to lower the cost of prescription drugs. Instead, he has enabled big drug companies to avoid Medicare price negotiations on top-selling drugs and opened special interest loopholes that result in higher prescription drug prices for American consumers. As a result, ten of the largest drugmakers collectively pocketed $50 billion more in profits during Trump's first year back in office.

"Last year, President Trump and Congressional Republicans cut $1 trillion from Medicaid, which works hand in glove with Medicare to help cover health care costs for seniors. Medicaid is the largest payer of nursing home care, covering more than six in ten nursing home residents. Trump's so-called 'One Big Beautiful Bill' law is projected to generate an estimated $490 billion in Medicare cuts between 2027 and 2034 due to a statutory pay-as-you-go law.

"Working together, we can keep Medicare's promise and ensure it is there for older Americans today, tomorrow, and for the next sixty-one years. Supporting Medicare provides quality health care to more Americans, slows rising health care costs, and helps reduce federal budget deficit."

Today, Medicare provides health insurance coverage to 68 million people nationwide, including older Americans and people with disabilities.

Medicare in Rhode Island offers health care coverage to people ages 65 years and above or with specific disabilities or health conditions. More than 240,000 Rhode Island residents are enrolled in Medicare, with choices divided between traditional coverage and private plans. Medicare Part A primarily covers hospital stays; Part B covers doctor visits and outpatient care; Part D covers prescription drugs; while Part C, also known as Medicare Advantage, is offered through private insurers as an alternative to traditional Medicare.

The average monthly Medicare Advantage plan premium is $32.32 in the Ocean State.

The Centers for Medicare and Medicaid Services (CMS), a division of the U.S. Department of Health and Human Services (HHS), administers the program.

The official source for Medicare information is: https://www.medicare.gov. Rhode Islanders may also call 1-800-MEDICARE for step-by-step, personalized guidance on coverage and enrollment.

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