Inflation Reduction Act Tamps Down on Prescription Drug Price Increases Above Inflation
On March 15, HHS, through CMS, announced 27 prescription drugs for which Part B beneficiary coinsurances may be lower from April 1 – June 30, 2023. CMS has released information about these 27 Part B drugs and biological products in the quarterly ASP public file, available here. A fact sheet is available here.
Lower Part B coinsurance will go into effect on April 1, 2023. This coinsurance adjustment applies to certain drugs and biologicals covered under Medicare Part B. The Part B drugs impacted by this coinsurance adjustment may change quarterly.
See the initial guidance detailing the requirements and procedures for the Medicare Prescription Drug Inflation Rebate Program here.
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