Medicare Part D Overview and Considerations Quiz

Medicare Part D offers prescription drug coverage.

Medicare Part D was implemented in 2006.

The Centers for Medicare & Medicaid Services administer the Medicare Part D program.

The purpose of Medicare Part D is to provide coverage for prescription drugs.

The Enhanced Coverage Plan offers the highest level of coverage in Medicare Part D.

The initial enrollment period for Medicare Part D is the three months before and after your 65th birthday.

The 'donut hole' refers to a coverage gap in prescription drug plans.

Multiple factors such as income, plan choice, and medications can affect Medicare Part D plan costs.

Over-the-counter vitamins are typically not covered by Medicare Part D.

IRMAA for Medicare Part D is a premium surcharge based on income.

Medicaid can help individuals with limited income and resources pay for Medicare Part D costs.

Medicare Part D formularies list the drugs covered by the plan.

Catastrophic coverage in Medicare Part D kicks in after reaching a certain out-of-pocket spending limit, providing coverage for prescription drugs.

Individuals with low income and limited resources may be eligible for extra help with Medicare Part D costs.

The coverage gap in Medicare Part D, also known as the 'donut hole,' occurs after reaching the initial coverage limit.

The catastrophic coverage threshold in Medicare Part D is the maximum out-of-pocket spending limit.

Medicare Part D late enrollment penalties can increase the premium by a fixed percentage.