Medicare Rebate Program

The U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS) has announced that 64 prescription drugs will have lower Medicare Part B coinsurance rates from July 1, 2024 through September 30, 2024. This is thanks to the Medicare Prescription Drug Inflation Rebate Program that lowers the cost of certain prescription drugs under Part B that have increased in price faster than the rise of inflation. Drug companies are required to pay rebates to Medicare through this program. CMS will begin invoicing no later than Fall 2025.