Medicare enrollees can expect to see savings on coinsurance premiums for prescriptions of 64 drugs through Medicare Part B in the coming months, the U.S. Department of Health and Human Services announced. Announced this week.
The rebate program, which runs from July 1 to September 30, is part of the Inflation Control Act, which aims to reduce the high cost of medicines and prevent drug companies from raising drug prices above the rate of inflation.
According to HHS, the drugs covered by the rebate are used by more than 750,000 Medicare beneficiaries each year and are typically administered by health care providers to treat conditions such as osteoporosis, infections and cancer.
Here’s what you need to know:
What medicines are eligible for reimbursement?
Medicines eligible for reimbursement Medicare Part B DrugsThese are typically “outpatient” prescription medications administered by a doctor or clinic, rather than something you can take at home.
Included drugs List of 64 medicines eligible for reimbursement These include drugs to treat cancer, osteoporosis, etc. (Think of anything that needs to be given via IV infusion.)
For a complete list of drugs, including “biosimilar” drugs and non-branded drugs that contain the same active ingredient, Fact Sheet from HHS.
If you have any questions, contact your healthcare provider or Contact Medicare directly Live Chat or call us at 1-800-633-4227.
I have Medicare. How do I apply for reimbursement?
An HHS spokesperson told CNET that as long as you have Medicare Part B, you don’t need to take any action to get the rebate and you could see lower coinsurance payments starting today, with the measure in place through September.
“People with Medicare Part B coverage may see lower coinsurance prices for these drugs starting July 1,” an HHS spokesperson said. “No action is required on the part of enrollees to take advantage of this discount.”
What other ways can you save money on prescriptions with Medicare?
Medicare Part B rebates are part of a broader inflation control law. Also includes It capped drug prices for Medicare Part D enrollees.
Additionally, the Medicare Low-Income Subsidy (also known as Extra Help) expanded the program this year to include people earning up to 150% of the federal poverty level. As long as you have both Medicare and Medicaid, you should be automatically covered. Supplemental Security Incomeor if you meet any of the following qualifications: Medicare Savings Programby National Council on Aging.
If you meet the criteria but are not automatically enrolled, but think you meet the criteria, Social Security Administration.
Medicare beneficiaries also have access to more commercial programs aimed at lowering drug costs, such as Amazon’s RxPass, which recently extended pharmacy benefits to Medicare beneficiaries.
