President Biden Releases 2024 Budget Request
On March 9, President Biden released his $6.9 trillion proposed budget request for fiscal year (FY) 2024 to Congress. The proposed Health and Human Services (HHS) budget included in the request contains $144.3 billion in discretionary funding and $1.7 trillion in mandatory funding for FY 2024. The proposed HHS budget also extends the solvency of […]
CMS Plans Three New Payment Models to Lower Prescription Drug Costs
The Centers for Medicare & Medicaid Services (CMS) announced it plans to test three new models in an effort to lower prescription drug costs. This is in response to President Biden’s Executive Order 14087, “Lowering Prescription Drug Costs for Americans.”
CMS Issues Initial Inflation Reduction Act Rebate Guidance for Part B Drugs
On Feb. 9, the Centers for Medicare & Medicaid Services (CMS) issued initial guidance for implementing the manufacturer Medicare Part B drug inflation rebates included in the Inflation Reduction Act. Given that these rebates take effect on April 1, 2023, certain provisions — including calculating Part B cost-sharing for drugs subject to the rebate — […]