On December 8, 2003, the President signed into law the Medicare Prescription Drug Improvement and Modernization Act of 2003. With the passing of this law, seniors and other Medicare beneficiaries have been given the choice of enrolling in a prescription drug benefit program that will pay for some or all of their prescription drug expenses.

With a network of insurers or Prescription Drug Plans (PDP) under contract to the Centers for Medicare & Medicaid Services (CMS), beneficiaries now have the freedom of choice to either continue receiving prescription drug benefits under their existing insurance benefits or switching to one of the Medicare Part D plans. For millions of seniors without any previous prescription drug benefits, the Medicare Part D prescription drug program offers an affordable solution.

Additionally, a variety of Medicare Part C plans, also known as Medicare Advantage (MA) plans, provide a combination of prescription drug, hospitalization and medical insurance benefits. For those who pay the additional Medicare Part B premiums or other supplemental insurance benefits, Medicare Advantage may provide a cost-effective alternative to Medicare Part A, Part B and add the prescription drug benefits which are absent under those programs.

Lastly, those Medicare beneficiaries who also qualify for state Medicaid prescription drug benefits will automatically have their prescription drugs covered by one of the Medicare Part D plans. If a beneficiary has a low income, but not low enough for Medicaid benefits, they may qualify for additional help in paying for the Part D premiums, deductibles and drug co-payments.

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