Overview
The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA, P.L. 108-173) established a voluntary, outpatient prescription drug benefit under Medicare Part D, effective January 1, 2006. Medicare Part D provides coverage through private prescription drug plans (PDPs) that offer only drug coverage, or through Medicare Advantage (MA) prescription drug plans (MA-PDs) that offer coverage as part of broader, managed care plans. Private drug plans participating in Part D bear some financial risk, though federal subsidies cover most program costs in an effort to encourage participation and keep benefits affordable.
- | Author: Congressional Research Service
- | Publisher: Createspace Independent Publishing Platform
- | Publication Date: Oct 08, 2014
- | Number of Pages: 66 pages
- | Binding: Paperback or Softback
- | ISBN-10: 1502840545
- | ISBN-13: 9781502840547
