Medicare Part D,
Definition of Medicare Part D:
Medicare Part D is one component of the overall Medicare program, which is a national health insurance program that insures approximately 60 million individuals. Whereas Medicare extends to a wide variety of medical treatment, Part D is focused specifically on making drug prices more affordable for American senior citizens. Although it was enacted into law in 2003, it began providing coverage to users on Jan. 1, 2006.
A federal program in effect since March 1, 2006, allowing an insurance company chosen by the government to subsidize the cost of prescription drugs for all Medicare beneficiaries who choose coverage. There are several plans and they vary in both cost and the type of prescription drugs covered.
Medicare Part D is a prescription drug benefit program offered by the United States government. It forms part of the broader Medicare system, and was created through the Medicare Modernization Act of 2003.
How to use Medicare Part D in a sentence?
- Those who already receive prescription drug coverage from other sources may be better off keeping their current coverage rather than opting in to Medicare Part D.
- Those who opt in to the program must purchase their insurance from registered private providers.
- Medicare Part D is a part of the overall Medicare program which provides enhanced prescription drug coverage.
Meaning of Medicare Part D & Medicare Part D Definition