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The Medicare Modernization Act (MMA) of 2003 added prescription drug benefits for Medicare beneficiaries and is known as Medicare Part D. Medicare Part D offers prescription drug coverage through Medicare. A Medicare Part D eligible individual is one who is entitled to or enrolled in Medicare benefits under Part A and/or Part B.

Dual eligibles are people who have both Medicare and Medicaid.

Dual eligibles receive their prescription drug coverage through Medicare rather than through the Medicaid program. Medicare Part D replaces Medicaid as the pharmacy coverage for dual eligible enrollees.

Part D prescription drug plans can be purchased as a standalone plan, or as part of a Medicare Advantage Prescription Drug Plan (MAPD).

The Inflation Reduction Act (IRA) is a bill that was signed into law by President Biden in 2022. It contained a number of policies, but one of its main goals was to reduce the price of medications for seniors.