03/15/2023

Inflation Reduction Act Tamps Down on Prescription Drug Price Increases Above Inflation

On March 15, HHS, through CMS, announced 27 prescription drugs for which Part B beneficiary coinsurances may be lower from April 1 – June 30, 2023. CMS has released information about these 27 Part B drugs and biological products in the quarterly ASP public file, available here. A fact sheet is available here.  

Lower Part B coinsurance will go into effect on April 1, 2023. This coinsurance adjustment applies to certain drugs and biologicals covered under Medicare Part B. The Part B drugs impacted by this coinsurance adjustment may change quarterly.

See the initial guidance detailing the requirements and procedures for the Medicare Prescription Drug Inflation Rebate Program here.

More Information:

• Full press release
• Medicare Part B Drug Average Sales Price webpage