Lexology July 15, 2024
Medicare Part B enrollees as of July 1, 2024 will experience savings on coinsurance for 64 drugs selected by the Biden administration. Pursuant to the Inflation Reduction Act and its Medicare Prescription Drug Inflation Rebate Program, these select drugs will have a lower coinsurance rate through September 30, 2024 to adjust for drug prices rising faster than the rate of inflation. The anticipated savings are substantial, especially with more than 750,000 Medicare beneficiaries using these drugs annually and another 300,000 individuals qualifying for expanded benefits under the Low Income Subsidy program.
Overview of the Rebate Program
Under the Inflation Reduction Act, certain pharmaceutical companies are required to pay rebates to Medicare in the event their drug prices increase at a...
Today's Sponsors
Today's Sponsor