December 5, 2022

CMS Releases New 2023 Part B IRA Requirements

On November 7, 2022 CMS released a significant memo regarding details and new requirements around the Inflation Reduction Act of 2022 (IRA) provisions applicable for 2023 regarding cost sharing for Part B drugs. This follows earlier memos regarding Part D details and new requirements. Due to the needed changes and CMS’ recognition of the difficulty around implementation for plans, for Part B IRA requirements, there are two distinct time frames for each of the two areas impacted: Part B Rebatable Drug Coinsurance Adjustment and Part B Insulin Cost Sharing Cap.

Follow the link below for our summary of the timeframe and requirements.

BluePeak's Summary of the New 2023 Part B IRA Requirements

With all the IRA changes for 2023, BluePeak recommends plans implement additional support and oversight of all provisions, both pre- and post-go live, to ensure enrollees are receiving the appropriate benefits and the plan sponsor is compliant with all CMS rules and regulations. Contact us for assistance with implementing and/or monitoring these 2023 changes.  

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BluePeak Advisors is a division of Gallagher Benefit Services, Inc. 

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