Trump administration to end Medicare Part D subsidy program in 2027

The Trump administration is ending a key health insurance subsidy program that aimed to keep premiums for seniors' prescription drug plans in check, claiming that it benefits corporate insurance companies, according to Centers for Medicare & Medicaid Services Administrator Mehmet Oz. Medicare Part D -- the government health insurance program's prescription drug benefit -- is used by tens of millions of older or disabled beneficiaries. The program's subsidies are set to expire at the end of the year, the administration announced Tuesday.