Bilirakis: Seniors Should Get the Relief - Not Insurance Companies

August 31, 2026 Press Release -New Bill Preserves Part D Premium Relief for Seniors Without Reviving Special Protections for Insurers- WASHINGTON, D.C . – Congressman Gus Bilirakis (R-FL), a senior member of the House Energy and Commerce Committee, introduced the Part D Premium Protection Act of 2026, legislation designed around a simple principle: when Washington provides relief from rising prescription drug premiums, the benefit should go to seniors - not insurance companies.  The Biden Administration created the temporary Part D Premium Stabilization Demonstration after changes made under the Inflation Reduction Act threatened to drive premiums sharply higher for seniors enrolled in stand-alone Medicare prescription drug plans. The demonstration lowered premiums for beneficiaries, but it also provided participating insurance companies with additional taxpayer-backed protection against losses.  That additional protection for insurance companies has been eliminated, effective 2026. Insurance companies have had two years to adjust and do not need additional taxpayer protection. However, the remaining premium assistance that is helping seniors with their monthly prescription drug costs is also scheduled to disappear after 2026.  Bilirakis believes seniors should not lose that relief.  The Part D Premium Protection Act of 2026 would preserve the average premium relief seniors received under the demonstration for one final year in 2027, without restoring or extending the additional federal loss protections that the Biden Administration previously provided to insurance companies. “ Insurance companies have had two years to adjust and do not need additional taxpayer protection. But seniors living on fixed incomes shouldn’t be left holding the bag ,” said Congressman Bilirakis . “ My bill puts the relief where it belongs - with seniors. If Washington has a choice between protecting an insurance company’s bottom line and lowering a senior’s monthly prescription drug bill, I’m going to choose the senior every single time.” Under Bilirakis’s legislation, seniors enrolled in stand-alone Medicare Part D plans would receive a uniform credit directly on their 2027 premium bills, based on the average premium relief beneficiaries received during 2025 and 2026. Every dollar of the credit must go toward lowering the senior’s premium. Insurance companies would have no discretion over the amount and would be reimbursed only for the amount actually credited to beneficiaries.  Importantly, the legislation does not reinstate the Biden-era protections against insurance company losses that the Trump Administration eliminated for 2026. Instead, it preserves the portion of the temporary program that directly benefits seniors while keeping those insurer protections off the books. “ Everywhere I go, seniors tell me that every dollar matters. Groceries cost more. Utilities cost more. Insurance costs more. Healthcare costs more ,” Bilirakis continued. “ They worked their entire lives, paid into Medicare and Social Security, and played by the rules. They shouldn’t have to choose between filling a prescription, buying groceries or keeping the lights on. I’ll keep fighting to make Washington work for them instead of protecting the profits of big insurance companies.” The legislation applies to beneficiaries enrolled in stand-alone Medicare Part D prescription drug plans and provides the premium credit for 2027, preserving relief for seniors for the final year originally envisioned under the temporary premium stabilization effort without bringing back additional taxpayer protections for insurance companies. Issues : Health Care