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Inflation Reduction Act Updates

Centers for Medicare & Medicaid ServicesAnnouncement: Inflation Reduction Act and Medicare.

November 26, 2024

*Revised Information Collection Request (ICR) for* *Negotiation Data Elements and Drug Price Negotiation Process for Initial Price Applicability Year 2027*

The Negotiation Data Elements and Drug Price Negotiation Process revised ICR can be found in the Federal Register [ https://www.federalregister.gov/documents/2024/11/25/2024-27490/agency-information-collection-activities-submission-for-omb-review-comment-request ]. The full text of the ICR can also be found at CMS' PRA website [ https://www.cms.gov/regulations-and-guidance/legislation/paperworkreductionactof1995/pra-listing/cms-10849 ].  This ICR includes the data and information the federal government will collect for consideration when negotiating maximum fair prices, as well as the data and information to be submitted in the offer and counteroffer negotiation process. The ICR is open for public input for 30 days. Comments are due by December 26, 2024.

*Contract Year 2026 Medicare Advantage (MA) and Part D Proposed Rule *

On November 26, 2024, the Centers for Medicare & Medicaid Services (CMS) issued a proposed rule that would revise the Medicare Advantage (MA) Program, Medicare Prescription Drug Benefit Program (Part D), Medicare Cost Plan Program, and Programs of All-Inclusive Care for the Elderly (PACE). The proposed rule includes several proposals related to the Inflation Reduction Act (IRA) including the Medicare Prescription Payment Plan, Part D improvements such as $35 covered insulin and $0 ACIP recommended vaccines, and operational requirements for maximum fair price effectuation.  Additional information can be found in the Press Release [ https://www.cms.gov/newsroom/press-releases/biden-harris-administration-announces-medicare-advantage-and-medicare-part-d-prescription-drug ] and Fact Sheet [ https://www.cms.gov/newsroom/fact-sheets/contract-year-2026-policy-and-technical-changes-medicare-advantage-program-medicare-prescription ]. To review or comment on the CY 2026 MA and Part D proposed rule during its 60-day public comment period, visit the Federal Register [ https://www.federalregister.gov/public-inspection/2024-27939/medicare-and-medicaid-programs-contract-year-2026-policy-and-technical-changes-to-the-medicare ]. Comments must be submitted no later than January 27, 2025.

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