Application of Pharmacy Price Concessions to the Negotiated Price at the Point of Sale Beginning January 1, 2024

Relevant to: All Part D Sponsors

The Centers for Medicare & Medicaid Services (CMS) is issuing this memorandum to highlight upcoming requirements regarding pharmacy price concessions effective January 1, 2024. We also remind Part D plan sponsors and/or their pharmacy benefit managers (PBMs) that CMS strongly encourages them to make necessary cash flow arrangements with network pharmacies in
preparation for these upcoming changes.

See the full guidance for more information.