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Friday, 28 Jul 2017

Medicare Part D

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Medicare Part D

Enacted as a piece of the Medicare Modernization Act in 2003, the Medicare prescription drug benefit (Part D) went into effect January 2006 as the first federal program to subsidize prescription drugs for individuals who receive benefits from Medicare Part A and/or Part B. Individuals who qualify for Medicare Part D receive it through private insurance companies contracted with Medicare, therefore premiums and copayments/deductibles may vary. Subsidies for prescription drugs are available to individuals making earning less than $16,335 and married couples without children earning $22,065 annually. In 2010, more than 27 million people were enrolled in Medicare Part D.

For more information on Part D, please click here and here.

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