Relevant to: All Part D Plans, PACE Organizations
Pursuant to 42 C.F.R. 423.346, the Centers for Medicare & Medicaid Services (CMS) will reopen the 2022 Part D payment reconciliation in the second quarter of 2024 due to errors found in the prospective payment amounts used by CMS in the initial reconciliation calculations. CMS estimates there is financial impact to at least half of the Part D plans, therefore, this will be a program-wide reopening for benefit year 2022 to ensure all plans receive correct payment reconciliation amounts for 2022. Plans do not need to take action to ensure inclusion in the reopening.