The inflation rate remains high, but Medicare patients may find relief in lower-than-usual copays for certain Part B drugs.
The Inflation Reduction Act, which President Joe Biden signed into law last August, requires drug companies to rebate Medicare for particular Part B drugs whose prices have increased faster than the rate of inflation. As of April 1, the federal law also may contribute to lower copays for Medicare patients, whose out-of-pocket costs now are capped at 20% of the inflation-adjusted drug price.
“Under this provision, people with Medicare will no longer have to worry about sudden out-of-pocket price increases when drug companies raise prices faster than the rate of inflation,” said Meena Seshamani, MD, deputy administrator and director of the Center for Medicare, in a June 9 news release.
You can find the current list of Part B drugs with inflation-adjusted prices on the Centers for Medicare & Medicaid Services website. It is updated quarterly.
For the quarter April 1 to June 30, CMS had listed 20 Part B drugs with inflation-adjusted prices.
CMS’ latest announcement lists reductions that will be in effect from July 1 to Sept. 30.
Last Updated On
June 27, 2023
Originally Published On
April 05, 2023
Emma Freer
Associate Editor
(512) 370-1383