Lexology March 24, 2023
The Inflation Reduction Act of 2022 requires drug companies to pay rebates to Medicare when prescription drug prices increase faster than the rate of inflation for certain drugs. This inflation rebate applies to Medicare Part B rebatable drugs, which are single-source drugs and biological products, beginning January 1, 2023. See our previous blog post discussing CMS guidance on the Medicare Prescription Drug Inflation Rebate Program here.
Under the Rebate Program, the beneficiary coinsurance rate will be 20% of the inflation-adjusted payment amount for rebatable drugs and biologics, which will be less than what the beneficiary would pay in coinsurance otherwise. On March 15, 2023, the Centers for Medicare & Medicaid Services (CMS) announced 27 prescription Part B drugs which will...
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