Medicare Part D and Prescription Drug Coverage Quiz

Medicare Part D provides prescription drug coverage for Medicare beneficiaries.

Prescription drug needs are not a factor considered when determining a Medicare Part D premium.

The Medicare Part D late enrollment penalty is a penalty for enrolling in Medicare Part D after the initial enrollment period without creditable drug coverage.

The purpose of the Medicare Part D Explanation of Benefits (EOB) statement is to outline prescription drug costs and utilization for beneficiaries.

The Medicare Part D Initial Deductible is a fixed amount paid by the beneficiary before the drug plan starts coverage.

The coverage gap, or doughnut hole, in Medicare Part D is a phase where beneficiaries pay all drug costs out-of-pocket.

Medicare beneficiaries qualify for Extra Help with their prescription drug costs by demonstrating financial need.

The purpose of the Medicare Part D Initial Coverage Limit is to set a threshold for drug coverage before entering the coverage gap.

The Food, Drug, and Cosmetic Act prohibits Medicare drug plans from covering certain off-label uses of prescription drugs.

The Centers for Medicare & Medicaid Services (CMS) offers assistance to Medicare beneficiaries in selecting a Part D plan through its State Health Insurance Assistance Program (SHIP).

The Centers for Medicare & Medicaid Services (CMS) administers the Medicare Part D program.

The initial enrollment period for Medicare Part D is the month of turning 65.

The catastrophic coverage phase in Medicare Part D is a phase where beneficiaries pay 100% for their prescription drugs.

In Medicare Part D, the purpose of a formulary is to list covered drugs and their cost-sharing.

Over-the-counter (OTC) drugs are generally excluded from Medicare Part D coverage.