Newly capped insulin prices for Medicare beneficiaries at $35 won't show up in Medicare Plan Finder this year.
According to a CMS memo, the price cap on insulin will not be reflected on Plan Finder, the online tool that helps beneficiaries compare plan options. Plans submitted their final bids for 2023 plans to CMS on June 6, according to the memo.
The Inflation Reduction Act, which established the price gap, was not signed until Aug. 16.
According to the CMS memo, the plan finder has incorporated multiple messages into the site to inform users this new benefit is not reflected in plan details.
People who use insulin who have issues with the plan they've selected after open enrollment closes on Dec. 7 will be able to switch plans once during the year, according to the memo.