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Medicare Reduces Coinsurance Amount for 41 Different Part B Drugs

What’s happening: Medicare temporarily reduced the coinsurance amount for 41 different Part B prescription drugs under the Inflation Reduction Act. 

What else to know: Through June 30, the coinsurance amount is decreased from 20% to between 3.8% and 19.9%, depending on the drug. 

The Inflation Reduction Act established the Medicare Prescription Drug Inflation Rebate Program, which requires drug companies to pay rebates to Medicare when prices for certain single-source and biosimilar prescription drugs covered under Part B increase faster than the rate of inflation. 

Medicare will pay health care providers the difference between the Medicare allowed amount and the adjusted beneficiary coinsurance, after applying the Part B deductible and prior to sequestration, if applicable.