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CMS Announces Reduced Coinsurance Amounts for Part B Drugs, Medicare to Pay Difference to Providers

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The Centers for Medicare & Medicaid Services (CMS) announced that Medicare will reduce the beneficiary coinsurance amount for 34 Part B prescription drugs between $1 and $618 per average dose from Oct. 1-Dec. 31, 2023.  

Under the Inflation Reduction Act, Medicare beneficiaries may pay a lower coinsurance for some Part B drugs if the drug’s price increases faster than the rate of inflation. According to a CMS fact sheet, Medicare will make health care providers whole by paying the difference between the Medicare allowed amount and the adjusted beneficiary coinsurance.