Search
Close this search box.

Medicare Part B Coinsurance Reductions for Select Drugs

The Centers for Medicare & Medicaid Services (CMS) under the U.S. Department of Health and Human Services (HHS) has announced a temporary reduction in coinsurance rates for 64 drugs available through Medicare Part B from July 1, 2024, to September 30, 2024. This reduction is part of the Medicare Prescription Drug Inflation Rebate Program initiated by the Inflation Reduction Act. The program aims to curtail rapid price hikes by pharmaceutical companies that exceed the inflation rate.

These drugs, used by over 750,000 Medicare beneficiaries annually, treat various conditions including osteoporosis, cancer, and infections. Notable medications include Padcev for advanced bladder cancer, where beneficiaries have experienced significant cost savings, and Crysvita for a rare genetic disorder affecting growth and bone health.

The Inflation Reduction Act also includes measures such as rebates from drug companies to Medicare for price increases beyond inflation, and an expansion of the Low-Income Subsidy (LIS) program under Medicare Part D, benefiting nearly 300,000 people. Furthermore, starting January 1, 2024, some Medicare Part D enrollees will see a cap on annual out-of-pocket costs at approximately $3,500, with a further reduction to $2,000 slated for 2025.

Comments

Vincel B. Flasher 1950-2024

Vincel was a modest man who enjoyed music, playing guitar, watching westerns, football, and being in the great outdoors.

Thaddeus Stevens and women’s suffrage

Thaddeus Stevens and women’s suffrage By Ross Hetrick If one of Thaddeus Stevens’s original proposals for the 14th Amendment to the Constitution had been approved,

Who We Are

The Franklin County Free Press, established by Vicky Taylor in 2019, emerged as a beacon of local journalism for the residents of Franklin County. Under Vicky's leadership, it quickly became an essential source of news, particularly at a time when major newspaper publications were increasingly overlooking local coverage.

On January 1, 2022, the torch was passed to Nathan Neil and his firm, Neil Publishing, LLC. Neil, a local entrepreneur with multiple thriving businesses in Chambersburg, shares Vicky's fervent commitment to both the community and the world of local journalism.

Rooted in the heart of Franklin County and powered by its residents, the Franklin County Free Press continues to bridge the gap, ensuring that the local stories, events, and issues that matter most to the community remain in the spotlight.