In Other News · United States · Politics

Source: Axios

President Trump late Friday night said the administration would send just under $100 to more than 20 million senior citizens to help pay for Medicare benefits.Why it matters: A month before the midterm, the president is adding another roughly $2 billion to a recent spate of promised refunds, rebates and dividends for various Americans. What he's saying: "I am pleased to announce that my Administration will, immediately, begin sending "Checks" of nearly $100 to over 20 MILLION wonderful Seniors to help pay for their Medicare Part B premiums, which we have already reduced by significant amounts," Trump said in a Truth Social post just before 11 p.m. ET Friday.Trump said the money would come from the Medicare Improvement Fund, which he criticized as a "Slush Fund."How it works: The White House, in a separate fact sheet, said eligible seniors would receive a direct deposit of $90 in early October, or paper checks if they don't have direct deposit. "Most" Medicare Part B enrollees are eligible, per the fact sheet. The Medicare Improvement Fund, established in 2008, has been a political hot potato for years.Yes, but: Per Medicare, the standard Part B premium is $202.90 a month, so the $90 credit...