Medicare: Enrollment in Medicare Drug Plans
Jennifer O’Sullivan
Abstract
Open-access reader
Jennifer O’Sullivan
Abstract
Open-access reader
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) established a new voluntary prescription drug benefit under a new Medicare Part D. The new benefit was effective January 1, 2006.Prescription drug coverage is provided through private prescription drug plans (PDPs) or Medicare Advantage prescription drug (MA-PD) plans.At a minimum, these plans offer "standard coverage" or alternative coverage with actuarially equivalent benefits.Beneficiaries are required to enroll in one of these private plans in order to obtain coverage.
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The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) established a new voluntary prescription drug benefit under a new Medicare Part D. The new benefit was effective January 1, 2006.Prescription drug coverage is provided through private prescription drug plans (PDPs) or Medicare Advantage prescription drug (MA-PD) plans.At a minimum, these plans offer "standard coverage" or alternative coverage with actuarially equivalent benefits.Beneficiaries are required to enroll in one of these private plans in order to obtain coverage.
Key concepts: Prescription drug, Medicare Part D, Business, Medicare Advantage, Medical prescription, Actuarial science, Drug, Order (exchange)