Month: February 2021

Medicare prescription drug coverage

How to Use Your Medicare Prescription Drug Coverage

Medicare drug coverage for outpatient self-administered prescription drugs is an important benefit available to those covered by Medicare. It’s crucial to understand how to maximize your benefits and use your Medicare prescription drug coverage effectively to reduce out-of-pocket costs. Your Doctor Prescribed You a Medication: Now What? To take full advantage of your Medicare plan’s …

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guide to medicare formularies and part d prescription drug coverage

Your Guide to Medicare Formularies and Part D Prescription Drug Coverage

Original Medicare (Part A and B), introduced in 1965, did not cover outpatient prescription drugs. Over time, Medicare beneficiaries paid increasing amounts for out-of-pocket drug costs that, by 2003 were rising by roughly 12% annually. These higher costs to beneficiaries led Congress to pass the Medicare Prescription Drug Improvement and Modernization Act of 2003 to …

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