CMS Issues New Policies to Provide Greater Transparency for Medicare Advantage and Part D Plans
The Centres for Medicare and Medicaid Services (CMS) are coming up with new policies to bring reforms in the healthcare industry. It is heralded as the final rule which aims at providing improved and better transparency for Medicare Advantage and Part D plans. The new policies of the 2023 Medicare Advantage and Part D Final Rule push for affordable healthcare by reducing out-of-pocket charges for prescription drugs. However, that advantage will be in effect from 2024. What Does The New CMS Policy Do? The Biden – Harris administration has been committed to offering healthcare for all with quality and affordable care packages and this Final Rule is the extension of that. In fact, different areas have been worked on in the new CMS policy. Some of them are: Price Negotiation The finalized policy of CMS has made it mandatory for all Part D plans to apply concessions on the prices of the medicine that they receive from the network of pharmacies. The prices have to be negotiat...