CMS releases final guidance for Medicare Prescription Payment Plan

The Centers for Medicare & Medicaid Services July 16 released its final guidance on the Medicare Prescription Payment Plan which will begin next year. The plan will provide individuals with Medicare Part D coverage the option to pay their out-of-pocket prescription drug costs in monthly installments rather than paying in full at the pharmacy counter. This final guidance complements CMS' upcoming national education and program implementation efforts that will be coordinated with Part D plans, pharmacies, providers, drug manufacturers, and beneficiary advocates. CMS has also released a fact sheet providing an overview on the final guidance.