Lexology January 23, 2023
- Growth of Medicare Advantage. Since its inception in 2006, the private plan alternative to traditional Medicare now covers nearly 48% of the entire country’s Medicare population—about 28.4 million Medicare beneficiaries nationwide. This figure is expected to pass the 50 percent mark in 2023 and reach 69 percent in 2030. Given that Medicare Advantage can offer extra benefits to those individuals in Medicare, it is likely to continue growing.
- New Cosmetic Regulatory Requirements. The Modernization of Cosmetic Regulation Act of 2022 is the first statutory change to the Food and Drug Administration’s (FDA) authority over cosmetics since 1938 and now requires manufacturers, importers, and processors of cosmetics to abide by requirements related to safety substantiation, adverse event reporting, product registration/listing,...
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