Medicare Prescription Drug Coverage
Program Funding
Annual program obligations reported to SAM.gov.
Program Objective
To provide prescription drugs to Medicare beneficiaries through their voluntary participation in prescription drug plans, with an additional subsidy provided to lower-income beneficiaries.
Eligibility
Eligible Applicants
- State
An entity organized and licensed under State law as a risk-bearing entity eligible to offer health insurance in each State in which it is to offer a plan, meeting the requirements in 42 CFR 423.504 and 42 CFR 423.505. The entity may offer prescription drug coverage in conjunction with a Medicare Advantage plan or as a separate standalone benefit.
How to Apply
Award Procedure
Payment will be made by CMS to the prescription drug plan sponsors.
Up to six months for plan sponsors.
Program details & compliance
Description
To provide prescription drugs to Medicare beneficiaries through their voluntary participation in prescription drug plans, with an additional subsidy provided to lower-income beneficiaries.
Mission Categories
Primary: General Health and Medical
Use of Funds
Allowed Uses
Payments will be made to participating prescription drug plans.