Doughnuts and Discounts — Changes to Medicare Part D under the Bipartisan Budget Act of 2018

The Medicare Prescription Drug Improvement and Modernization Act (MMA) of 2003 created a new Medicare benefit (Part D), a new insurance product (prescription-drug–only plans), and a new market. Fifteen years later, Part D is widely regarded as a success, providing drug coverage to 42.5 million…

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