What is the Medicare Modernization Act?
The Medicare Modernization Act – or “MMA” – introduced the most sweeping changes to Medicare since the program was first signed into law in 1965. The full name of the Act is Medicare prescription drug Improvement and Modernization Act of 2003. The changes went into effect January 1, 2006, providing you more choices in Medicare coverage – including prescription drug benefits. At its core, the Medicare Modernization Act extends prescription drug coverage to everyone who has Medicare. This prescription drug benefit is known as “Medicare Part D.
The Medicare prescription drug program and the changes to Medicare managed care, now known as Medicare Advantage, are the result of the Medicare Modernization Act. In 2003, Congress passed a new law to bring people with Medicare more choices in health care coverage and better health care benefits. This law preserves and strengthens the current Medicare program and adds important new preventive benefits. It also adds a prescription drug benefit (Medicare Part D) that Medicare beneficiaries may purchase from a private insurer. The benefit also provides extra help to people with low incomes.
Related Questions
- What is CMS= policy regarding the inclusion of prescription drugs in a Medicare Set-aside with the implementation of the Medicare Modernization Act of 2003 (MMA)?
- How Might the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 Affect the Financial Viability of Rural Pharmacies?
- How do provisions in the Medicare Prescription Drug Improvement and Modernization Act (MMA) impact Critical Access Hospitals (CAHs)?
