We’ve got the list of Medicare Part B prescription drugs your clients may save on during 2023!
These price adjustments are a result of the Inflation Reduction Act’s Medicare prescription drug rebate provision.
Part B Prescription Drug Savings
The Centers for Medicare & Medicaid Services (CMS) analyze and announce the Part B prescription drugs that qualify for inflation-adjusted coinsurances quarterly. As a reminder, Medicare Part B generally covers drugs provided in doctors’ offices and hospital outpatient departments.
Which Part B Drugs May Have Lower Coinsurances in Q4 2023?
On September 13, CMS announced the Part B drugs that may have lower coinsurances for the remainder of the year due to their prices increasing faster than inflation.
The 34 prescription drugs below, covered under Medicare Part B, may cost Medicare beneficiaries less out of pocket during October, November, and December 2023.
Note: CMS released this information via their quarterly Average Sales Price (ASP) public files. Occasionally, these files are updated by CMS after they are released, before they go into effect.
Part B Prescription Drugs Qualifying for Lower Coinsurances in Q4 2023
Percentage (Normally 20%)
How Much Will Beneficiaries Save on These Part B Prescriptions?
According to CMS Administrator Chiquita Brooks-LaSure, “people with Medicare may save up to $618 per average dose” of these medications. It’s important to note, however, that specific savings will depend on the individual and their exact coverage.
● ● ●
For more info on the Medicare Prescription Drug Rebate program, visit CMS.gov/inflation-reduction-act-and-medicare/inflation-rebates-medicare.