As discussed at the SOAR meeting the following are the new benefits under Medicare.
Dennis
The Inflation Reduction Act (IRA) signed by President Biden in 2022 expands Medicare to fully pay for many vaccines. and Caps Insulin Costs.
Vaccines
Starting on Jan. 1, 2023, Medicare enrollees won’t have any out-of-pocket costs for vaccines that the Centers for Disease Control and Prevention’s Advisory Committee on Immunization Practices recommends for adults.
Medicare Part B, which applies to doctor visits, diagnostic tests and other outpatient services, already fully covers some vaccines, including flu shots, pneumonia vaccines, hepatitis B inoculations and COVID 19 coronavirus vaccines (initial shots as well as boosters).
But other vaccines, most notably the expensive vaccine for shingles, are covered under the Part D prescription drug plans, and many of those plans currently require enrollees to share the cost of those shots.
Shingle shots, which are two doses. typically costs between $180-to- $200
The new (IRA) law eliminates that cost-sharing.
Insulin charges curbed
Beginning in 2023, co-pays for a 30-day supply of any insulin that a Medicare drug plan covers will be capped at $35. Note that Part D plans will be required to adhere to the $35 copay limit even if an enrollee has not met their annual deductible.