What is a primary purpose of the Medicare Modernization Act?

The primary purpose of the Medicare Modernization Act, enacted in 2003, was to enhance benefits and lower costs for Medicare beneficiaries. This legislation introduced significant changes to the Medicare program, most notably the creation of Medicare Part D, which provided prescription drug coverage to millions of beneficiaries. By addressing the rising cost of medications and making them more accessible for seniors, the Act aimed to improve the overall quality of healthcare for those enrolled in Medicare.

In addition to prescription drug coverage, the Act also encouraged private sector involvement through Medicare Advantage plans, which allowed beneficiaries to receive their Medicare benefits through private insurance companies, often with added perks and potentially lower costs. Thus, the focus was on expanding and improving the benefit structure while striving to maintain affordability for recipients, ultimately leading to a more comprehensive healthcare program for older Americans.