Medicare Part D and the Financial Protection of the Elderly

摘要

In 2003, Medicare recipients spent an average of $2,500 on prescription drugs, more than twice what the average American spent on all health care in 1965. Most of the nation's elderly had some form of private insurance to cover the costs of prescription drugs, but many did not. The Medicare Modernization Act of 2003, known as Medicare Part D, addressed this coverage shortfall by adding a prescription drug benefit to the government's health insurance options for the elderly.