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September 30, 2008
 Medicare Part D Prescription Drug Coverage: Federal Oversight of Reported Price Concessions Data
To help Medicare beneficiaries manage the rising cost of prescription drugs, Congress passed
the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA), which
established the outpatient prescription drug benefit known as Medicare Part D. The benefit
was first available in January 2006, and that year it provided federally subsidized prescription
drug coverage for nearly 28 million beneficiaries at a cost of $47.4 billion almost 12 percent
of total Medicare spending. The Centers for Medicare & Medicaid Services (CMS), part of the
Department of Health and Human Services (HHS), manages and oversees the Part D
program.
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OPEN MINDS