Kimberly Lankford is a contributing writer who covers Medicare and personal finance. She wrote about insurance, Medicare, retirement and taxes for more than 20 years at Kiplingers

The premiums are of interest to consumers enrolled in Medicare Advantage plans run by private insurers who are then paid by the government, and the health plans themselves, who set premiums and benefits based on the reimbursement rates.

Federal regulators spent billions of dollars to avoid a spike in costs for older Americans that could have been politically damaging to the presidential campaign of Vice President Kamala Harris.

The Biden administration said “average premiums, benefits, and plan choices for Medicare Advantage and the Medicare prescription drug program will remain stable in 2025.”

The Biden administration Friday announced that older Americans next year would face lower average monthly premiums for their prescription drugs, a feat achieved by pouring billions of dollars into subsidies for insurers.