The Centers for Medicare and Medicaid Services (CMS) confirmed last week a rule to restructure Medicaid rebate and reimbursement programs for prescription drugs.
These changes will come as provisions to the Affordable Care Act. CMS estimates the change will save taxpayers $2.7 billion over a five-year period.
Major changes were made to Medicaid payments for prescription drugs under the Affordable Care Act, including an increase on rebates and putting a cap on federal reimbursements. The Covered Outpatient Drugs final rule will put into effect a new way to calculate rebates and reimbursements. This is part of the CMS’s plan to make prescription drugs more affordable and accessible.
The cost of prescription drugs has been steadily rising, hindering the ability for millions of patients, who rely on these drugs to manage chronic illnesses, to have access to them. The Covered Outpatient Drugs final rule will bring the cost of prescription medicines back down so those who depend on them will be able to afford and have access to them.
Medicaid drug rebate and reimbursement programs will be outlined by the new rule and will be defined in more detail to make certain Medicaid rebates match up with market prices, which will help taxpayers save money.