Medicare Prescription Changes for 2023

Vaccinations for adults as recommended by the CDC’s Advisory Committee on Immunization Practices (ACIP) will be provided at no charge to those enrolled in Medicare. This includes the two-dose vaccine for shingles, which used to cost hundreds of dollars, now to be offered for free.

Insulin: For insulin that is included under Medicare Part D, the maximum out-of-pocket copayment will be limited to $35 starting this year and remaining thus until 2025. This copayment applies even if you haven’t reached your Part D deductible. Commencing in 2026, the maximum copayment for insulin will be either $35 or 25% of the drug’s agreed-upon price, depending on which is lesser.

Inflation-Based Penalties – Drug manufacturers that increase their prices beyond the overall inflation rate will face repercussions. These firms will be required to reimburse Medicare if their price hikes are higher than inflation. This consequence will be enforced on all of the manufacturer’s Medicare drug sales.

Discover more by reading When 9 Biggest Medicare Changes Under New Rx Law Go Into Effect  at AARP.org here.