This WILL make the cost for prescription drugs HIGHER for older Americans…. Older Americans are mostly on fixed incomes…. Trump and company HAVE worked HARD to make sure Americans pay MORE for healthcare and well being coverage…. The decision means that millions of Americans 65 and older could face higher Medicare drug premiums next year, when the cost of living is already a major concern. …Biden administration officials set up the subsidy program before the presidential election in 2024 to offset changes that would have sharply raised Medicare drug premiums for 2025.