Final answer:
To qualify for Medicare Part D, a prescription drug coverage plan, one must be enrolled in either Part A or Part B, not necessarily both. Part A covers hospital expenses, while Part B is for non-hospital medical costs. Part D was added to address the need for a prescription drug benefit.
Step-by-step explanation:
The statement that you must have Parts A and B of Medicare in order to qualify for Part D is false. Part D is a prescription drug coverage plan that is available to anyone who has either Part A or Part B of Medicare. It is not mandatory to have both Part A and Part B to enroll in Part D. To clarify, Medicare Part A covers hospital charges and is funded by payroll deductions. Medicare Part B is an optional insurance for covering non-hospital healthcare costs like physician services and medical tests, where beneficiaries pay a monthly fee and other costs.
The Medicare Prescription Drug and Modernization Act of 2003 introduced Part D to help mitigate the financial burden faced by the elderly and disabled, who are often in need of multiple prescription drugs. Thus, to benefit from Medicare's prescription drug coverage (Part D), enrollment in either Part A or Part B is sufficient.