Medicare Part B beneficiaries may save between $1 and $3,575 per average dose for the 41 drugs whose prices have risen higher than inflation.
In the second quarter of 2024, the U.S. Department of Health and Human Services (HHS) predicts that an estimated 763,700 people with Medicare Part B will benefit with lowered coinsurance as a result of the inflation rebates required on prescription drugs because of the Inflation Reduction Act.
Between April 1, 2024, and June 30, 2024, beneficiaries may save between $1 and $3,575 per average dose depending on coverage for the 41 drugs (listed below) subject to rebates through Part B whose prices have risen faster than the rate of inflation.
The Inflation Reduction Act requires drug companies to pay rebates to Medicare when prices increase faster than the rate of inflation for certain drugs. The Centers for Medicare & Medicaid Services intends to begin invoicing prescription drug companies for rebates owed to Medicare no later than fall 2025. The rebate amounts paid by drug companies will be deposited in the Federal Supplementary Medical Insurance Trust Fund, which will help ensure the long-term sustainability of the Medicare program for future generations
List of drugs subject to inflation rebate, second quarter 2024
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