4 pages. Excerpt: [T]he Centers for Medicare & Medicaid Services (CMS) [released] initial guidance on the waivers that CMS will grant so that the Medicare prescription drug benefit can be customized for employer and union retiree plans when the benefit takes effect in 2006. [T]he Medicare Modernization Act gives CMS the authority to waive or modify requirements that hinder the design of, offering of, or enrollment in, Medicare prescription drug benefit arrangements sponsored by employers[.]

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