Trump says U.S. will send $90 payment to over 20 million Medicare enrollees

Investing.com -- U.S. President Donald Trump said the government will send a one-time $90 payment to more than 20 million Medicare enrollees to help offset monthly medical insurance premiums, Reuters reported.

Trump said late Friday that the payments would be funded through the Medicare Improvement Fund, which he said received $2 billion from Congress to improve Medicare’s fee-for-service program.

The White House said most eligible seniors would receive the $90 payment through direct deposit in early October. Those without direct deposit will receive checks sent to the mailing address registered with Medicare.

The announcement comes ahead of November’s midterm elections, when control of Congress is at stake. Republicans currently hold narrow majorities in both the House and Senate.

The payment is the latest financial proposal from Trump as Americans contend with elevated living costs and higher energy prices linked to the U.S.-Israeli war with Iran.

Trump last month proposed sending $5,000 checks to adult U.S. citizens if Republicans retain control of the House and Senate. The proposal drew scepticism from analysts, economists and some Republican lawmakers.

The administration is separately distributing $500 payments to nearly 1 million Americans who purchased health insurance through the Affordable Care Act.

The White House has described those payments as refunds for what it says were excessive fees charged to people who bought health insurance through the program.

The Medicare announcement adds to a series of financial measures unveiled by Trump ahead of the November elections, with the administration focusing on costs faced by U.S. households.