A Brief History of Medicare: Supplements and Part D TopicsPopular TopicsMost Recent Medicare Working Past 65 Lifestyle & Wellness Considering Retirement Existing Clients Employer Monthly Webinars Community Development The Need to Standardize Medicare Supplements Prior to the 1980s, insurance companies offered supplemental insurance policies to Medicare beneficiaries to give them extra coverage. There were many plans offered by many insurance companies. Unfortunately, Medicare beneficiaries began to experience high-pressure sales tactics, deceptive advertising, and substandard and overpriced insurance policies. In 1980, the “Baucus Amendment” was passed. This was formally known as the Medigap Fraud and Abuse Prevention Act. It standardized the Medicare Supplement plan offerings to help consumers compare the different benefit packages. Before this amendment, there were countless options that people could choose from, making the selection of a plan very confusing. Additional Amendments To prevent further abuse, the government passed the Medicare and Medicaid Patient and Program Protection Act in 1987. With this new bill, it became a felony to provide false medical information when applying for a Medicare Supplement. Although a number of other amendments were passed over the years, one of the most significant was the Consolidated Appropriations Act in 2001. This bill allowed people who experienced sudden life changes or whose supplement went through changes to be able to purchase a new supplement without being denied due to preexisting health conditions. The Introduction of Part D As we previously mention in A Brief History of Medicare Part 2, Medicare began to offer coverage for prescriptions in 2003 through the new Medicare Part D, which is offered by private insurance companies. Part D would become commonly available through Medicare Advantage plans and also Stand-Alone Prescription Drug plans. Because Medicare Supplements do not offer coverage on prescriptions, most people on a Supplement also purchase a Stand-Alone Prescription Drug plan in order for their medications to be covered. Fun fact: While many Medicare Advantage Plans are available with a $0 monthly premium, all Stand-Alone Prescription drug plans will have some kind of monthly premium. If you have questions or if we can assist you, please contact us at 1-877-222-1942 or email@example.com. If you are not a RetireMED®iQ client yet and have questions about retirement or Medicare, please contact us at 1-866-600-5638 or firstname.lastname@example.org to get started on your Medicare journey. Stay informed about Medicare An easy way to stay updated on Medicare and any important changes is to sign up for the free, customizable RetireMEDiQ newsletter. Based on your personal preferences and interests, helpful articles and community-related content will be sent directly to your inbox. Sign up for our newsletter Yes! Tell me more about Medicare and help me explore my options.Name First Email* Date of BirthMonth123456789101112Day12345678910111213141516171819202122232425262728293031Year2022202120202019201820172016201520142013201220112010200920082007200620052004200320022001200019991998199719961995199419931992199119901989198819871986198519841983198219811980197919781977197619751974197319721971197019691968196719661965196419631962196119601959195819571956195519541953195219511950194919481947194619451944194319421941194019391938193719361935193419331932193119301929192819271926192519241923192219211920Phone*Phone TypeCellHomeWorkOtherAuthorization to Contact? Check here to receive text notifications from RetireMEDiQ Hiddenvidhidden NameThis field is for validation purposes and should be left unchanged. Providing your information in this form will allow RetireMEDiQ to communicate with you to help guide you through your Medicare journey and authorize RetireMEDiQ to send you appointment updates, alerts, and reminders via SMS/text messaging. Message and data rates may apply to any text messages sent by RetireMEDiQ.