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Inflation Reduction Act Research Series: Medicare Part B Inflation Rebates in 2023

Publication Date

The Inflation Reduction Act (IRA) includes provisions to increase accessibility and affordability of prescription drugs for the 65 million Medicare beneficiaries, reduce the rate of growth in Medicare drug spending, and improve the financial sustainability of the Medicare program. These IRA provisions include a rebate on certain Part B and D drug prices if prices rise faster than inflation. This fact sheet focuses on one of the IRA’s provisions, the Medicare Part B inflation rebate, and its impact on the drugs that meet the law’s criteria in calendar year 2023. The law establishes Medicare Part B prescription drug inflation rebates for certain single-source drugs and biologicals with prices increasing faster than the rate of inflation, and provides for lower Part B beneficiary cost sharing on these drugs and biologicals through an adjusted coinsurance rate.

*This content is in the process of Section 508 review. If you need immediate assistance accessing this content, please submit a request to Arielle Bosworth, (202) 809-1225, Content will be updated pending the outcome of the Section 508 review.

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