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What providers need to know about the Inflation Reduction Act

The Inflation Reduction Act (IRA) became law on August 16, 2022 and includes several provisions to lower prescription drug costs for people with Medicare and reduce drug spending by the federal government.

Claims processing

Humana claims processing logic for both of these provisions will be implemented prior to 1/1/2023, and no additional action will be required by providers or pharmacies for members to obtain these benefits.

Member costs

If you have a Humana Medicare Part D member who at point of sale is paying MORE than expected for Part D covered vaccines or insulin:

  • Inform the member that the claim will be reprocessed, and the member will receive a refund within 30 days. The member is not required to take any additional action.
  • If the member has additional questions regarding plan benefits, you can instruct the member to call the number on the back of the member’s plan ID card.

Learn more about the IRA 2023 changes