Centers for Medicare and Medicaid Services Releases Medicare Part D Final Rule

On January 21, 2005, the Centers for Medicare and Medicaid Services (CMS) released the final rule implementing the Medicare Part D prescription drug benefit.1 The Part D benefit, which was established by the Medicare Prescription Drug, Improvement and Modernization Act of 2003 (MMA), will begin January 1, 2006.

Along with the final rule, CMS released final subregulatory guidance on Part D formularies and related issues, which is referred to here as the formulary review guidance.2