Notice2023-27551
Inflation Reduction Act (IRA) Revised Program Guidance
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 15, 2023
Issuing agencies
Health and Human Services DepartmentCenters for Medicare & Medicaid Services
Abstract
The Centers for Medicare & Medicaid Services (CMS) is announcing the availability of CMS' revised guidance for the Medicare Part B and Part D Prescription Drug Inflation Rebate Program for the implementation of the Inflation Reduction Act. CMS will be releasing additional Inflation Reduction Act-related guidance; all can be viewed on the dedicated Inflation Reduction Act section of the CMS website.
Full Text
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<title>Federal Register, Volume 88 Issue 240 (Friday, December 15, 2023)</title>
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[Federal Register Volume 88, Number 240 (Friday, December 15, 2023)]
[Notices]
[Pages 86904-86905]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-27551]
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DEPARTMENT OF HEALTH AND HUMAN SERVICES
Centers for Medicare & Medicaid Services
[CMS-1800-N2]
Inflation Reduction Act (IRA) Revised Program Guidance
AGENCY: Centers for Medicare & Medicaid Services, Health and Human
Services (HHS).
ACTION: Notice.
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SUMMARY: The Centers for Medicare & Medicaid Services (CMS) is
announcing the availability of CMS' revised guidance for the Medicare
Part B and Part D Prescription Drug Inflation Rebate Program for the
implementation of the Inflation Reduction Act. CMS will be releasing
additional Inflation Reduction Act-related guidance; all can be viewed
on the dedicated Inflation Reduction Act section of the CMS website.
FOR FURTHER INFORMATION CONTACT: Inquiries related to the revised
guidance should be sent to <a href="/cdn-cgi/l/email-protection#b1f8e3f0e3d4d3d0c5d4d0dfd5ffd4d6dec5d8d0c5d8dedff1d2dcc29fd9d9c29fd6dec7"><span class="__cf_email__" data-cfemail="87ced5c6d5e2e5e6f3e2e6e9e3c9e2e0e8f3eee6f3eee8e9c7e4eaf4a9efeff4a9e0e8f1">[email protected]</span></a> with
the relevant subject line, ``Medicare Inflation Rebate Program
Guidance.''
SUPPLEMENTARY INFORMATION: The Inflation Reduction Act was signed into
law on August 16, 2022. Section 11101 of the Inflation Reduction Act
added a new section 1847A(i) to the Social Security Act (the Act),
which establishes a requirement for manufacturers to pay Medicare Part
B rebates for single source drugs and biological products with prices
that increase faster than the rate of inflation for a calendar quarter
to the Federal Supplementary Medical Insurance Trust Fund, and provides
for lower Part B beneficiary cost sharing on these drugs and
biologicals. Section 11102 of the Inflation Reduction Act added a new
section 1860D-14B to the Act, which establishes a requirement for
manufacturers to pay rebates to the Federal Supplementary Medical
Insurance Trust Fund for certain Part D drugs when prices increase
faster than the rate of inflation for each 12-month applicable period.
Collectively, this program to implement these rebates is referred to as
the Medicare Prescription Drug Inflation Rebate Program, or the
Inflation Rebate Program.
To obtain copies of the revised guidance and the responses to
comments from the initial guidance, as well as other Inflation
Reduction Act-related documents, please access the CMS Inflation
Reduction Act website by copying and pasting the following web address
into your web browser: <a href="https://www.cms.gov/inflation-reduction-act-and-medicare">https://www.cms.gov/inflation-reduction-act-and-medicare</a>. If interested in receiving CMS Inflation Reduction Act
updates by email, individuals may sign up for CMS Inflation Reduction
Act's email updates at <a href="https://www.cms.gov/About-CMS/Agency-Information/Aboutwebsite/EmailUpdates">https://www.cms.gov/About-CMS/Agency-Information/Aboutwebsite/EmailUpdates</a>.
The Administrator of the Centers for Medicare & Medicaid Services
(CMS), Chiquita Brooks-LaSure, having reviewed and approved this
document, authorizes Vanessa Garcia, who is the Federal Register
Liaison, to electronically sign this document for
[[Page 86905]]
purposes of publication in the Federal Register.
Dated: December 12, 2023.
Vanessa Garcia,
Federal Register Liaison, Centers for Medicare & Medicaid Services.
[FR Doc. 2023-27551 Filed 12-14-23; 8:45 am]
BILLING CODE 4120-01-P
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</html>Indexed from Federal Register on December 15, 2023.
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