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The variable is the Part D plan benefit package (PBP) for the beneficiary's Part D plan for a given month. CMS assigns an identifier to each PBP within a contract that a Part D plan sponsor has with CMS.
If the beneficiary did not have a Part D plan for a given month, this variable will have null/missing value for that month. If the beneficiary changed plans during the year, the value indicates the final, reconciled PBP number. For 2006 - 2012, this variable was always encrypted to comply with CMS.