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What are Medicare prescription drug plans (PDP)?

April 26, 2017medicare PDP plans prescription drug

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What are Medicare prescription drug plans (PDP)?

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As part of the Medicare Modernization Act (MMA), Medicare began offering comprehensive outpatient prescription drug coverage to beneficiaries in January 2006. Private insurance companies work with Medicare to offer these drug plans. Medicare prescription drug plans provide insurance coverage for prescription drugs. Like other insurance, if you join, you will pay a monthly premium and pay a share of the cost of your prescriptions. Costs will vary depending on the drug plan that you choose.