HHS Issues New Guidance for Medicare Prescription Drug Program

Additional guidance issued Thursday by the Biden administration further delineates the requirements of a program that allows Medicare prescription drug plan enrollees to pay their out-of-pocket costs in monthly installments next year.

The Medicare Prescription Payment Plan will target beneficiaries with high prescription drug costs at the start of the year. It’s part of President Joe Biden’s signature Inflation Reduction Act. The prescription drug portion of the law aims to reduce high upfront out-of-pocket drug costs for people with Medicare’s Part D prescription drug coverage.

Thursday’s final Part 1 guidance targets drug plans that participate in ...