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Blog

Removing the Last Remnants of the Free Market from Medicare

Created in 2003 as part of the Medicare Modernization Act, Part D of Medicare was designed to provide financial aid for prescription medication purchases of Medicare beneficiaries. As of 2018, 43 million people receive prescription drug coverage under Part D; 58% of those are on a stand-alone prescription drug plan, as opposed to the Medicare Advantage plans that provide supplementary coverage. Though is is open to all Americans who receive Part A and/or Part B benefits, Part D is an entirely optional program.

08/22/2019