Happy Wednesday! In this week’s Big I Buzz: Wisconsin to receive federal disaster aid after summer floods, and actuaries raise concerns over Medicare’s long-term costs.

Six States to Receive Federal Disaster Aid From Summer Floods

President Trump has approved federal disaster aid for Wisconsin and five other states following storms and floods that occurred this spring and summer. The disaster declarations will provide federal funding to Wisconsin, Kansas, North Carolina, North Dakota, and tribal areas in Montana and South Dakota. In each case except Wisconsin, the approval process took more than a month—continuing a trend of longer waits for disaster relief. Read more here.

Actuaries Warn Medicare Costs Threaten Long-Term Sustainability

The American Academy of Actuaries warned in a recent webinar that rising Medicare spending poses a long-term challenge for the program. Increased enrollment, along with higher costs for Part B and Part D prescription drug coverage, are projected to push premiums sharply higher over the next decade.

• Part B premiums: $147/month in 2024 → $347/month by 2034
• Part D premiums: $34/month in 2024 → $51/month by 2034

These increases could significantly impact retirees living on fixed incomes. Read more here.

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