Medicare Part D Prescription Drug Plans and Coverage Quiz

Medicare Part D provides prescription drug coverage for Medicare beneficiaries.

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

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

The Initial Coverage Limit in Medicare Part D is designed to limit the total drug costs covered by the plan.

During the Initial Coverage Period, the beneficiary pays 25% of the prescription drug costs.

The purpose of the Medicare Prescription Drug Plan Finder tool is to allow beneficiaries to compare and enroll in Medicare Part D plans.

The coverage gap in Medicare Part D is often referred to as the Donut Hole.

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

The Annual Enrollment Period in Medicare Part D allows beneficiaries to enroll in a plan or make changes to existing coverage.

The coverage gap is a cost-sharing feature in Medicare Part D.

The Extra Help program for Medicare Part D assists lower-income individuals with prescription drug costs.

The purpose of Medication Therapy Management (MTM) programs in Medicare Part D is to optimize medication use and improve therapeutic outcomes.

Catastrophic coverage in Medicare Part D provides coverage for expensive drugs after reaching the out-of-pocket spending limit.

The benchmark plan in Medicare Part D is the lowest-cost plan in a region used to calculate Extra Help.

The Special Enrollment Period (SEP) in Medicare Part D permits beneficiaries to enroll or make changes outside of the regular enrollment periods.

The purpose of the 'Five-Star Special Enrollment Period' in Medicare Part D is to allow enrollment in a five-star rated plan at any time.

The purpose of the Part D Explanation of Benefits (EOB) statement is to detail prescription drug costs and usage.