PhRMA Conversations - Medicare Part D and its Promise
Conversations: Is Medicare Part D Still Living Up to its Promise?
09.25.13 | By Matt Bennett
In 2003, the Medicare Prescription Drug, Improvement, and Modernization Act was passed by Congress and signed into law by President George W. Bush. This landmark legislation created the Medicare prescription drug benefit (Part D) – a federal program that provides affordable drug coverage to millions of seniors and people with disabilities.
By the numbers, Part D continues to be a success – something we have discussed at length here on Catalyst. The Centers for Medicare & Medicaid Services estimates the average monthly beneficiary premium in 2014 will be about $31 – that’s less than half what was originally forecasted. And the recent annual survey released by the Healthcare Leadership Council’s (HLC) Medicare Today finds that 90% of seniors are satisfied with their Medicare Part D plans.
This year, we celebrate the 10-year anniversary of the creation of Medicare Part D and we thought it would be a good time to revisit the program and see how you think it has performed. This led us to this week’s “Conversations” question:
We have an interesting set of participants answering this week’s “Conversations” question, and I hope you take a moment to read the current responses and join the conversation by sharing your thoughts in the comment section below.
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