Publications

Focus on Health Benefits Medicare Part D New Prescription Drug Program: For Retirees and Plan Sponsors

Fall 2005
Employment & Employee Benefits Developments - Fall 2005

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) expanded Medicare by adding a voluntary prescription drug benefit for retirees. The Centers for Medicare and Medicaid Services (CMS) issued final regulations concerning the implementation of the new Medicare Prescription Drug Program known as Medicare Part D. Starting January 1, 2006, everyone who is in Medicare, regardless of his or her income, will now have access to the Standard Part D prescription drug benefits with protection against high out-of-pocket cost.