(Washington, D.C.) — The Pharmaceutical Care Management Association (PCMA) issued the following statement on the final Contract Year 2023 Policy and Technical Changes to the Medicare Advantage and Medicare Prescription Drug Benefit Programs rule:
“PCMA applauds CMS for delaying the implementation date for the pharmacy price concessions provision of the final rule to 2024. This extra year will help to reduce disruptions to Medicare beneficiaries by allowing Part D plans time to adjust their pay-for-performance pharmacy contracting. In addition, the delay appropriately prevents premiums from increasing in 2023 on top of rising inflation.
Medicare pharmacy DIR represents value-based contracting, which Part D plans, through their PBMs, use to incentivize pharmacies to improve patient care, while helping to lower Part D premiums.”
PCMA is the national association representing America’s pharmacy benefit managers (PBMs). PBMs administer prescription drug plans for more than 266 million Americans who have health insurance from a variety of sponsors including: commercial health plans, self-insured employer plans, union plans, Medicare Part D plans, the Federal Employees Health Benefits Program (FEHBP), state government employee plans, Medicaid plans, and others.