On February 15, the Centers for Medicare & Medicaid Services (CMS) released the second part of draft guidance for the Medicare Prescription Payment Plan that outlines requirements for Medicare Part D plan sponsors, including outreach and education requirements, pharmacy processes, and operational considerations, for the program’s first year, 2025. The draft guidance is part of the prescription drug law, the Inflation Reduction Act, which is designed to reduce the burden of high upfront out-of-pocket prescription drug costs for individuals with Medicare prescription drug coverage by allowing them to spread out costs over the year rather than requiring they pay in one lump sum.
CMS is seeking comments from the public on the draft part two guidance. The comment period is open for 30 days. Comments received by March 16, 2024, will be considered during the development of the final guidance. Comments should be sent to PartDPaymentPolicy@cms.hhs.gov with the following subject line: “Medicare Prescription Payment Plan Guidance – Part Two.”
Click here to view CMS' press release.
Click here to view CMS' fact sheet.
Click here to view the Draft Part Two Guidance.