“The Centers for Medicare & Medicaid Services on Friday unveiled a new payment model for Medicare Part D, and “transformative updates” to the Medicare Advantage Value-based Insurance Design…”
“Part D Tries a New Payment Model
The Part D Payment Modernization initiative is part of the Trump Administration’s Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs, which calls for increased competition, better negotiations, and creating incentives to lower prices and reduce out-of-pocket costs for seniors.”
“Under existing Part D, once a patient’s prescription drug spending is high enough for the patient to enter the final phase of the benefit, known as the “catastrophic phase,” Medicare is responsible for 80% of drug costs…”
“VBID Gets an Update
The updates to Medicare Advantage Value-based Insurance Design will also take effect in 2020 and Medicare Advantage plans across the United States will be able to apply.”
“The updates include…” Read the full article here.
Source: CMS Unveils New Part D Payment Model, ‘Transformative Updates’ to Existing MA Model – By John Commins, January 18, 2019. HealthLeaders.
