Letters are expected to be sent out to 39 million recipients next week, according to a report from Politico on Thursday, which cited five officials and draft documents it obtained.
However, the actual payments may not be mailed until after Nov. 3, according to the publication.
The money will be sent on cards that resemble credit cards, and could reportedly be branded with a reference to the president. They would need to be used at pharmacies.
The money -- around $8 billion -- is expected to be pulled from the Medicare trust fund.
A CMS spokesperson did not immediately return FOX Business’s request for comment on the timeframe for the mailings.
At the end of last month, Trump pledged to mail more than 30 million Medicare beneficiaries $200 that could be used to pay for medicines.
Medicare covers individuals aged 65 and over and younger people with disabilities.
It has recently been reported that Medicare beneficiaries may not be able to receive a potential coronavirus vaccine cost-free if it is approved for emergency use. The program does not cover drugs approved via emergency authorizations.
The White House is said to be looking at ways to ensure coverage for a vaccine, which is intended to be free for all Americans.