CMS announced the Medicare payment for administering Covid-19 vaccines has been increased in an effort by the Biden Administration to expand capacity and vaccinate as many adults as quickly as possible, according to a press issued by CMS today.
Effective March 15, the national average payment rate for administering a single dose of a Covid-19 vaccine is $40, up from the $28 rate established last year. This also raises the payment rate for administering vaccines that require two doses from $45 to $80.
The exact payment rate for administration of each dose of a COVID-19 vaccine will depend on the type of entity that furnishes the vaccine and will be geographically adjusted based on where the service is provided.
These updates to the Medicare payment rate for COVID-19 vaccine administration reflect new information about the costs involved in administering the vaccine for different types of providers and suppliers, and the additional resources necessary to ensure the vaccine is administered safely and appropriately, CMS stated in the release.
The release also reminded providers and insurers that the vaccine must be administered without cost-sharing while the Public Health Emergency remains in effect, regardless of whether a patient has Medicare, Medicaid, or private insurance.