Healthcare Finance News February 19, 2024
The Medicare Prescription Payment Plan is part of a suite of provisions aimed at lowering prescription drug and healthcare costs.
The Centers for Medicare and Medicaid Services has released the second part of draft guidance for the Medicare Prescription Payment Plan that outlines requirements for Medicare Part D plan sponsors for the program’s first year, in 2025.
These include outreach and education requirements, pharmacy processes and operational considerations, according to CMS.
The draft guidance is part of the implementation of President Biden’s prescription drug law, the Inflation Reduction Act, which among other things seeks to allow seniors to spread out their Medicare prescription drug costs over the year, rather than requiring them to pay in one lump sum.
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