Gillibrand Holds Virtual Press Conference Slamming Trump Administration For Medicare Cuts, Raising Drug Prices For Seniors

Trump Administration Decision Will Raise Premiums For As Many As 1.3 Million New Yorkers Today, U.S. Senator Kirsten Gillibrand (D-NY) held a virtual press conference to slam the Trump administration for its decision to end subsidies that lower prescription drug costs for Medicare recipients. “The Trump administration’s decision to end critical Medicare subsidies that help seniors afford life-saving medication is a betrayal of our values,” said Senator Gillibrand. “This administration has money for bombs abroad, but not for our seniors here at home. I’m urging President Trump to reverse these Medicare cuts now and instead take action to lower costs for American seniors.” In 2025, these subsidies lowered average premiums for seniors with Medicare Part D standalone prescription drug plans by 40% per month. By ending these subsidies, the Trump administration is raising costs for as many as 25 million Americans on Medicare, including up to 1.3 million New Yorkers. At a time when seniors are already struggling with rising prices for groceries, gas, and utilities, Senator Gillibrand urged the Trump administration to reverse its decision to end the subsidies and work with insurance plans to insulate seniors from dramatic premium increases in 2027. Senator Gillibrand continues to lead the fight to lower healthcare costs for seniors on Medicare. Earlier this year, she introduced the Medicare Cost Cap Act , which would cap out-of-pocket costs for Traditional Medicare (parts A and B) beneficiaries at $5,000 per year. She has also introduced legislation to strengthen Medicare’s ability to negotiate prescription drug prices and reduce out-of-pocket costs for seniors. Additionally, she champions the Capping Prescription Costs Act , which would extend the cap on annual out-of-pocket prescription drug costs for Medicare Part D beneficiaries to people with private health insurance. ###