Prescription Drugs

On March 26, the Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), announced 41 prescription drugs covered under Medicare Part B that may have lower beneficiary coinsurances. From April 1, 2024, through June 30, 2024, some people with Medicare who take these drugs may save between $1 and $3,575 per average dose, depending on the beneficiary’s coverage. Under the Inflation Reduction Act, signed into law in August 2022, drug companies that raise their drug prices faster than the rate of inflation are required to pay a rebate to Medicare. Starting April 1, 2023, Medicare beneficiaries may pay a lower coinsurance for certain Part B drugs if the drug’s price increases...