Starting January 1, 2006, the Centers for Medicare & Medicaid Services (CMS) will
extend coverage for prescription drugs to Medicare beneficiaries.
Medicare Part D is the new prescription drug benefit resulting from the Medicare Modernization Act of 2003, providing all beneficiaries with the option to add prescription drug coverage. A premium will be charged for Part D in the same way there is a premium for Part B benefits.
You will have to pay a premium each month for the Part D benefit. The premium for Part D is approximately $32 to $37 a month. Each enrollee wishing to participate will have to elect Part D coverage and choose a corresponding Prescription Drug Plan (PDP) or a Medicare Advantage Plan (MA-PD). Those beneficiaries with limited income and resources may be able to get additional help for monthly premiums, deductibles and co-payments.
To learn more about Medicare Part D, please click here to view our brochure entitled Medicare Modernization Act of 2003's Prescription Drug Coverage through Part D.
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