VI. Key Issues: Financing and Delivery >> D.  Health Insurance Coverage >> Public Health Insurance >> Medicare (last updated 2.9.17)

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Medicare Part D Prescription Drug Coverage

The Medicare Prescription Drug Benefit was passed in 2003. The government doesn’t directly negotiate drug prices in Part D of Medicare, nor does it set the cost of the benefit. Instead, health plans and PBMs negotiate prices with drug manufacturers and then compete with one another based on price and quality, for market share.


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