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LegislativeNews
Medicare Prescription Drug Coverage Quick Overview The Medicare Modernization Act provides for a number of new Medicare benefits, including coverage for prescription drugs effective January 1, 2006. This is the first time in the history of Medicare that coverage for outpatient prescription drugs has been covered by the Medicare program. Everyone on Medicare will be eligible for the new prescription drug program. This includes those who may be covered by other programs, such as those covered as active employees or as retirees of employer-sponsored plans. There will be an initial open enrollment period for the prescription drug program. If a person is currently covered by a prescription drug plan that provides benefits that are at least as good as the Medicare plan, he/she can continue under that plan if he/she wishes instead of enrolling on the Medicare drug program during the initial open enrollment period. When that person is no longer covered by the employer plan, he/she can enroll in the Medicare prescription drug program without paying and penalty for late enrollment
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