Medicare Part D
A prescription drug benefit clause in the U.S. Medicare Prescription Drug, Improvement, and Modernization Act of 2003. The clause gives Medicare recipients three choices: stay in traditional Medicare without signing up for the prescription drug benefit outlined in the Act, stay in traditional Medicare and enroll in an independently provided drug plan, or enroll in a comprehensive private health plan.
Investopedia Commentary
Senior citizens and seniors' advocacy groups have criticized Medicare Part D for not being comprehensive enough and adding to the already high costs of getting the drugs that seniors need for medical reasons. As a result of Medicare Part D, a number of insurance products are expected to begin covering the gaps in prescription drug coverage in Jan 2006.
Related Links
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Medicare: Defining the Lines
See also: Federal Poverty Level - FPL, Group-Home Care, Long-Term Care (LTC) Insurance, Medicaid, Medicare
Also spelled: medi care part d, medi care pt.d