Aetna Medicare, on behalf of the Centers for Medicaid and Medicare Services (CMS), will be mailing the following important information to post-65 (Medicare) retirees regarding the impact of the Inflation Reduction Act of 2022 on Medicare Part B Prescription Drug Benefits, specifically insulin cost.
According to the Inflation Reduction Act of 2022, insulins covered under Medicare Part B that are experiencing price growth at a rate:
- higher than the rate of inflation will have the copay capped at $35.00 effective April 1, 2023
- lower than the rate of inflation will have the copay capped at $35.00 effective July 1, 2023
For insulins covered under Medicare Part D, the copay has been capped at $35.00 effective January 1, 2023.
The specific insulins affected under Medicare Part B are still forthcoming, but the type of insulin covered under Medicare Part B is insulin administered through an external insulin pump. Injectable insulin, or insulin used with a disposable insulin pump, is covered under Medicare Part D.
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